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California Mini-CFPB Could Spell Trouble for Lenders, Lawyers Say

The creation of a state-level regulatory agency in California similar to the Consumer Financial Protection Bureau would be burdensome for lenders, Quyen Truong, partner at Stroock & Stroock & Lavan LLP, told Auto Finance News, especially considering the Department of Business Oversight is already active in regulating the finance industry. “If a new agency were […]

On The Radar: Lenders Eye 3 States Set to Intensify Oversight

From the March issue: Despite the regulatory sigh of relief provided last year by the rollback of the 2010 Dodd-Frank Act, stricter state regulations have auto lenders holding their breath. On the heels of a February 2018 call by Mick Mulvaney, former acting director of the Consumer Financial Protection Bureau, to let states more often […]

AutoFi Leans on Ford Credit Partnership for Market Expansion

  AutoFi is expanding its dealer base this year with the help of Ford Motor Credit, entering the Michigan market and expanding its footholds in California and Texas, Head of Lender Success Ben Atkinson told AFN. AutoFi is a company that connects dealerships with lenders and buyers online for vehicle purchasing. This year, AutoFi will […]

Fintech Credit Karma Enhances Auto Insurance Tool in Texas, California

Credit Karma estimates that consumers overspend $21 billion a year on auto insurance. In light of this, the fintech is providing a simplified service for consumers to find cheaper auto insurance policies. The company announced this week that it is expanding its auto insurance tool to generate insurance suggestions to consumers by analyzing government information […]