Compliance
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...
Battery innovation enhances EV technology, generates worldwide patent boom
For years auto industry insiders talked about the “dawn” of the electric vehicle (EV) era. A confluence of developments demonstrates...
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...
US Supreme Court blocks vaccine mandate for large employers
In a per curiam opinion released Thursday afternoon, the Supreme Court released long-awaited guidance on vaccine mandates issued by federal agencies....
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...
FTC tightens data safeguards in the Gramm-Leach-Bliley Act
The Federal Trade Commission’s (FTC) updated rules for safeguarding customer information in the Gramm-Leach-Bliley Act (GLBA) are set to shake...
The Crystal Ball: Compliance predictions for 2022
Welcome to my latest attempt at predicting what next year has in store for the auto finance industry. As I...
Credit Acceptance Corp. settles alleged UDAP violations
Credit Acceptance Corp. (CAC) has settled with the Mississippi Attorney General’s Office on allegations that the Southfield, Mich.-based lender engaged...
