Compliance & Regulation
CFPB signals fair lending practices extend to servicing
Auto lenders using predictive recovery models in servicing operations could fall under scrutiny from the Consumer Financial Protection Bureau (CFPB)...
Lucid stock plunges after EV maker reveals SEC investigation
Lucid Group Inc. disclosed it’s become the latest electric-vehicle maker to come under U.S. investigation following a merger with a...
New regulations are expected as F&I profits increase, dealers say
Dealers anticipate new regulations are on the horizon as public companies’ finance and insurance (F&I) profits continue to rise. Published...
Biden keeps Powell as Fed chief, elevates Brainard to vice chair
President Joe Biden selected Jerome Powell for a second four-year term as Federal Reserve chair while elevating Governor Lael Brainard...
New CFPB report undermines disparate impact rationale
Since its inception, the Consumer Financial Protection Bureau (CFPB) has penalized auto financiers for disparate impact — the unintended discrimination...
Consumer advocacy takes a front seat as Chopra is confirmed to lead CFPB
Rohit Chopra was confirmed in a party-line vote by the U.S. Senate as the third director of Consumer Financial Protection...
American Honda Finance settles with DOJ for alleged SCRA violations
American Honda Finance Corp. (AHFC) settled with the U.S. Department of Justice on Wednesday in response to allegations that the...
Former Honor Finance execs hit with SEC complaint
The co-founders of the now-defunct subprime auto lender Honor Finance have been accused by the Securities and Exchange Commission (SEC)...
