Compliance & Regulation
State AGs ratchet up pursuit of GAP refunds
Though some lawmakers are still drafting legislation related to guaranteed auto protection (GAP) policies, financiers are already starting to feel...
CFPB complaints about auto debt collection on the rise
Auto debt collection complaints trended upward in January and February as the Consumer Financial Protection Bureau (CFPB) continues to closely...
GAP-focused legislation set to double in 2022
LAS VEGAS — Legislation surrounding guaranteed asset protection (GAP) is on the rise and should double within the next year,...
E-SIGN bill reintroduced in U.S. Senate
U.S. Republican Senators reintroduced legislation on Tuesday to amend the Electronic Signatures in Global and National Commerce Act (E-SIGN), with...
CFPB acts to halt illegal automobile repos
Rising used-vehicle values, affordability concerns and mounting auto loan debt have caught the attention of the Consumer Financial Protection Bureau...
CFPB zeros in on ‘junk’ fees
Auto lenders should take a close look at how they assess payment-related fees amid a recent Consumer Financial Protection Bureau...
Auto collection complaints skyrocket 72% in 2021
Consumer complaints related to vehicle loans and leases increased 12% in 2021, but those centered on the collection of debt...
New Gramm-Leach-Bliley rules to require changes to service provider contracts
The forthcoming changes to the Gramm-Leach-Bliley Act data safeguard rules will require auto lenders to rewrite or amend contracts with...
