Officials with Penske Automotive Group, which reported a record fourth quarter, said the operation will “wait and see” when it comes to adopting the NADA’s new fair lending compliance program.
The Federal Reserve is looking into costs associated with the Consumer Financial Protection Bureau's renovation of its headquarters, which have ballooned to three times the original estimate.
Zurich North America worked with Hudson Cook on guidance to help auto dealers protect their dealerships from allegations of unfair lending practices.
The settlement is the department’s third largest fair lending agreement and largest ever auto lending agreement.
The American Financial Services Association is commissioning a study to address the CFPB’s concerns for discrimination related to rate participation programs. It will also provide a cost-benefit analysis of alternative dealer compensation models.
While it’s unwise to get stuck in a bygone era, ‘Da Man’ reminds us all that exciting predictions for the future don’t always pan out.
CFPB Director Richard Cordray responded Monday to lawmaker demands for information on the bureau’s investigation of the indirect financing channel. The director delivered his response a day before Ally revealed in a filing with the SEC that it may be facing ECOA violations.
The CFPB put companies that supply information to consumer reporting companies on notice, warning them that they are bound by law to investigate consumer disputes.
Steven Antonakes officially assumes the role of deputy director for the CFPB, the bureau announced this week.
Subprime loan programs with automatic interest-rate reductions are great for both dealers and their customers, but could run afoul of TILA standards.
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