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CFPB acts to halt illegal automobile repos

Lenders could be motivated to repossess overvalued vehicles for resale, Rohit Chopra said

Whitney McDonaldbyWhitney McDonald
March 3, 2022
in Compliance
Reading Time: 2 mins read
0

Rising used-vehicle values, affordability concerns and mounting auto loan debt have caught the attention of the Consumer Financial Protection Bureau (CFPB), which indicated last week that it would zero in on illegal repossession activity as part of its heightened focus on unfair, deceptive or abusive acts or practices spurred by the economic fallout of the […]

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Tags: CFPBlegal compliancePremiumrepossessions
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