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Compliance & Regulation
Small business lending data collection rule change expected in March
Changes to the Equal Credit Opportunity Act (ECOA) that would require equipment lenders to submit to the Consumer Financial Protection...
Toyota Motor Credit settles $7.6M Mass. lawsuit
Toyota Motor Credit Corp. has reached a $7.6 million settlement with the Massachusetts Attorney General’s Office to resolve allegations that...
Wells Fargo to pay $300 million to settle car insurance suit
Wells Fargo & Co. will pay $300 million to settle a lawsuit claiming it improperly charged customers for unneeded auto-collision...
Massachusetts exempts auto loans from negative equity license requirement
Auto lenders who finance negative equity have been given a reprieve from small loan licensing requirements following an exemption passed...
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 Weaver 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...
