Compliance
CFPB highlights AI-driven chatbot risks for FIs
Financial institutions must consider the efficiencies and limitations of artificial intelligence when deploying chatbots as client adoption grows and regulators...
Data management key for GAP compliance
Thorough record keeping at the time of origination and coordinated data management are key to compliance with different states’ guaranteed...
Firm that makes personal loans to pay $20 million after deceptive claims
US regulators ordered OneMain Holdings Inc. to pay $20 million in redress and penalties, saying the personal loan installment lender...
Abusive practices: CFPB policy statement murky at best
On April 3, the Consumer Financial Protection Bureau published a policy statement on abusive practices. As readers know, the bureau...
Autotech Ventures secures $230M to invest in mobility startups
Venture capital firm Autotech Ventures has secured $230 million to invest in ground transportation startups. The latest capital acquisition marks...
Vehicle lending complaints increase 44% YoY
Problems with billing, interest rates and vehicle repossessions contributed to a 44% year-over-year increase in auto loan and lease complaints...
4th Circuit affirms GAP inclusion does not nullify auto loan exemption from MLA
A 4th Circuit Court of Appeals decision on Wednesday affirmed a lower court’s finding that the inclusion of guaranteed asset...
2nd Circuit Court of Appeals rules CFPB funding constitutional
The U.S. Court of Appeals 2nd Circuit last week ruled the Consumer Financial Protection Bureau’s funding was constitutional, opposing an...
