American Honda Finance Corp. | Auto Finance News | Page 6 | Auto Finance News - Part 6

Honda Finance is Another CFPB End-Around, Senator Says

The chairman of the Senate Banking Committee today accused Director Richard Cordray of the Consumer Financial Protection Bureau of using lenders as a “back-door” way to regulate dealerships, even though Congress cut most dealerships out of the CFPB’s jurisdiction. That’s a familiar charge. But in a hearing today Sen. Richard Shelby (R-Alabama) cited yesterday’s consent […]

Honda Cuts Dealer Markup in DOJ, CFPB Settlement

American Honda Finance Corporation (AHFC) will reduce dealer discretion to mark up customer buy rates, to address charges of discriminatory auto loan pricing, in a consent order announced today with the Consumer Financial Protection Bureau and the U.S. Department of Justice. As part of today’s order, Honda will reduce the permitted dealer mark-up to 125 […]

Honda, Toyota, Nissan Captives Could Settle Discrimination Cases Soon

The Consumer Financial Protection Bureau and the U.S. Department of Justice could be close to announcing consent orders with the three biggest Japanese-brand captive finance companies, American Honda Finance Corp., Toyota Motor Credit Corp. and Nissan Motor Acceptance Corp. The consent orders potentially represent millions of dollars in refunds, and according to a report in […]

CPS Receives Subpoena From DOJ

The Department of Justice issued a subpoena to Consumer Portfolio Services on January 14, according to an 8-K filed with the Securities and Exchange Commission last week. The filing describes the DOJ subpoena as “a civil investigative subpoena from the U.S. Department of Justice pursuant to the Financial Institutions Reform, Recovery, and Enforcement Act of […]

Ally Financial Reveals Subpoena From DOJ

Ally Financial Inc. is the latest auto finance company to reveal it has received a subpoena from the U.S. Department of Justice. The subpoena, issued in connection to Ally’s subprime lending practices and securitization activities, was revealed by Ally in an 8-K filed with the Securities and Exchange Commission yesterday. In the 8-K, Ally wrote […]
Page 6 of 7« First...«34567 »