Compliance
Vehicle lending complaints climb 8% YoY
The volume of consumer complaints tied to auto loans increased 7.5% year over year in 2022, driven by billing and...
CAC sued for ‘predatory’ lending practices
The Consumer Financial Protection Bureau (CFPB) today announced a lawsuit against subprime auto lender Credit Acceptance Corp. (CAC) in conjunction...
Regulatory and legislative trends for 2023
Last month, I reported on how the regulatory year progressed in 2022. I suppose in 2023 we should be accustomed...
Wells Fargo penalty largest in CFPB history
Wells Fargo’s $3.7 billion settlement with the Consumer Financial Protection Bureau includes the largest consumer redress and financial penalty in...
Wells Fargo Auto to pay $1.3B in CFPB settlement
Wells Fargo Auto is paying $1.3 billion to more than 11 million borrowers following a Consumer Financial Protection Bureau (CFPB)...
Commercial fleet lessors face new disclosure requirements
Automotive commercial fleet lessors subject to new disclosure requirements under California’s law passed earlier this month face potentially unexpected costs...
New commercial finance disclosure laws exempt floorplan
Auto lenders have been granted a reprieve from new commercial financing disclosure laws coming down the pipe into early 2023. ...
FCC rules ringless voicemails are subject to TCPA
The Federal Communications Commission (FCC) last month made clear that ringless voicemail messages are considered a call and are subject...
