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Compliance & Regulation
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...
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)...
Commercial fleet lessors face new disclosure requirements
Automotive commercial fleet lessors subject to new disclosure requirements under California’s law passed earlier this month face potentially unexpected costs...
New commercial finance disclosure laws exempt floorplan
Auto lenders have been granted a reprieve from new commercial financing disclosure laws coming down the pipe into early 2023. ...
FCC rules ringless voicemails are subject to TCPA
The Federal Communications Commission (FCC) last month made clear that ringless voicemail messages are considered a call and are subject...
Under the Hood: CFPB eyes disabling of starter-interrupt devices
Vehicle starter-interrupt devices may be headed for the chopping block if regulators have their way. In its “Supervisory Highlights” report...
Listen: Weekly Wrap discussion on credit, fees
Auto credit availability continued to improve in October while regulation scrutiny ramped up. The Dealertrack Credit Availability Index increased 0.2%...
