Compliance
Stricter GAP legislation coming to 4 states
Four states have enacted or are considering new legislation aimed at pinpointing who is responsible for providing refunds related to...
Colorado AG focuses on GAP refunds with $4M settlement
Colorado Attorney General Phil Weiser inked a $4 million settlement earlier this month with two Colorado-based credit unions for failing...
CFPB seeks to publicly register loan terms, consent orders
Auto lenders may soon need to register consumer protection law-related consent orders or judgments imposed on them in a new...
Vehicle lending complaints climb 8% YoY
The volume of consumer complaints tied to auto loans increased 7.5% year over year in 2022, driven by billing and...
CAC sued for ‘predatory’ lending practices
The Consumer Financial Protection Bureau (CFPB) today announced a lawsuit against subprime auto lender Credit Acceptance Corp. (CAC) in conjunction...
Regulatory and legislative trends for 2023
Last month, I reported on how the regulatory year progressed in 2022. I suppose in 2023 we should be accustomed...
Wells Fargo penalty largest in CFPB history
Wells Fargo’s $3.7 billion settlement with the Consumer Financial Protection Bureau includes the largest consumer redress and financial penalty in...
Wells Fargo Auto to pay $1.3B in CFPB settlement
Wells Fargo Auto is paying $1.3 billion to more than 11 million borrowers following a Consumer Financial Protection Bureau (CFPB)...
