GAP | Auto Finance News | Auto Finance News

Abusive GAP sales on CFPB radar

The Consumer Financial Protection Bureau is likely to keep an eye on lenders’ sales of guaranteed asset protection (GAP) products after highlighting the issue as a key finding in its summer 2019 Supervisory Highlights report. The report underscored one or more instances of auto lenders selling GAP products to consumers who would not have benefited […]

Indiana Regulator Focuses on Education for Auto Lenders

Refunds associated with guaranteed asset protection coverage and violations in the Truth in Lending Act are the top two compliance issues Indiana’s Department of Financial Institutions encounters, General Counsel Lyndsay Miller told Auto Finance News. To that end, the regulator is taking an educational approach to compliance when working with auto lenders in the state, […]