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Category: Info for consumers | Category: At the CFPB

You have the right to someone in your financial corner

Harry noticed that his son Ari, a servicemember, was struggling with his car loan, so he reached out to the Consumer Financial Protection Bureau. His story led to our investigation into an auto loan program that we found was using deceptive marketing and lending practices to target servicemembers.

Published
Category: Policy and compliance

Fall 2015 rulemaking agenda

An important part of the CFPB’s mandate from Congress is to make rules governing consumer finance markets more effective and to create new rules when warranted. Today, we’re posting a semiannual update of our rulemaking agenda as part of the federal government’s Unified Agenda of Regulatory and Deregulatory Actions.

Published
Category: Policy and compliance | Category: Info for consumers

Ally settlement administrator will contact eligible borrowers soon

We found that between April 2011 and December 2013, Ally’s markup policy resulted in African-American, Hispanic, Asian and Pacific Islander borrowers paying more for auto loans than similarly situated non-Hispanic white borrowers. Ally agreed to a settlement and is paying a settlement administrator to distribute the $80 million in damages to harmed borrowers.

Published
Category: At the CFPB

Live from the CFPB!

Today, we held a forum on auto finance here at the CFPB. The forum featured remarks from CFPB Director Richard Cordray as well as panel discussions with senior CFPB officials, federal regulators, consumer group representatives, and industry stakeholders. Learn more about the auto finance forum.

Published
Category: At the CFPB

Save the date, Washington DC!

Join us for an auto finance forum at CFPB headquarters, located at 1700 G Street NW, Washington, D.C. The forum will take place on Thursday, November 14 at 8:45 a.m. EST. The event will feature remarks from CFPB Director Richard Cordray and a discussion with consumer groups, industry representatives, and members of the public. The […]