American Honda Finance Corp. | Auto Finance News | Page 5 | Auto Finance News - Part 5

Top 10 CFPB Headlines of 2015

Not surprisingly, the Consumer Financial Protection Bureau dominated the headlines in 2015, for a second year running. It was another busy year for the CFPB. The bureau continued to reach numerous consent orders and level fines against various auto lenders. While Santander Consumer USA picked up the most CFPB complaints in the first half of […]

No Surprise, Auto Finance High On CFPB Rule-Making Agenda

The Consumer Financial Protection Bureau reiterated its interest in creating new rules in several areas touching on auto finance including arbitration, debt collection, the regulation of “larger participant” non-banks, and credit reporting. The CFPB submitted its Fall 2015 Rulemaking Agenda on Friday, listing “major current and long-term initiatives.” The CFPB and the Federal Trade Commission […]

Auto ABS Losses Inch Up, but Horizon Remains ‘Healthy,’ Fitch Says

Prime auto loan ABS losses rose to the highest level in over four years through September, but loss rates were still well below the 10-year average, according to Fitch Ratings’ In the Auto ABS Driver’s Seat 3Q report released Friday. Prime transactions in the mid-range, with significant concentrations of 600–700 FICO obligors, are the biggest driver […]

Rulings May Leave Doors Open for Lenders

The recent American Honda Financial Corp. consent order from the Consumer Financial Protection Bureau and a U.S. Supreme Court decision on “disparate impact” offer potential arguments for auto lenders in future cases, said attorneys in a recent webinar. For instance, the Honda Finance consent order last month showed that the CFPB would tolerate dealer markups, said Nick Smyth, […]
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