The CFPB has gone on a hiring spree under President Biden. With a larger enforcement team, dealers can expect greater oversight and possibly more significant penalties and fines.
The Consumer Financial Protection Bureau is making it clear to dealers what it considers bad business. So, how does this apply to you?
The CFPB is continuing its new pattern of listening with the creation of a consumer finance “task force.” Could the auto finance community be getting a break?
Writes Terry Mathis: “World-class safety organizations have a vision of success they are working toward, not a vision of failure they are working away from.
What qualifies as a UDAAP? How can you ensure your organization doesn’t engage in unfair, deceptive, or abusive acts and practices? For better or worse, that’s up to the CFPB. Learn what they're looking for and how to minimize your risks.