CFPB Report Finds Sharp Increase In Riskier Longer-Term Auto Loans
Six-Year Auto Loans Carry Higher Costs and Higher Default Rates than Five-Year Auto Loans.
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CFPB Supervision Recovers $14 Million in First Half of 2017 for Over 100,000 Consumers Harmed by Illegal Practices
Bureau Supervision Requires Some Companies to Change Practices to Prevent Future Violations.
CFPB Issues $1.25 Million Fine to Servicemember Auto Lender for Violating Consent Order
Auto Loan Company Failed to Provide Redress For Illegal Collection Tactics.
CFPB Unveils Consumer Credit Trends Tool to Help Forecast Potential Consumer Risks
Web-based Tool Will Deliver Regular Updates on Consumer Lending Markets.
CFPB Supervision Recovers $11 Million for 225,000 Harmed Consumers
CFPB Finds Qualified Students Were Blocked From Affordable Loan Repayment Plans; Updates Student Loan Servicing Exam Procedures.
CFPB Sues Five Arizona Title Lenders for Failing to Disclose Loan Annual Percentage Rate to Consumers
Bureau Alleges Lenders Did Not List Required Annual Percentage Rate in Online Loan Advertisements.
Consumer Financial Protection Bureau Supervisory Actions Return $24.5 Million To A Quarter-Million Consumers Harmed By Illegal Activities
Report Highlights Violations in Auto Origination, Debt Collection, Mortgage Origination and Small-dollar Lending.
Consumer Financial Protection Bureau Monthly Complaint Snapshot Auto And Other Consumer Loan Complaints
The CFPB's Office of Consumer Response hears directly from consumers about the challenges they face in the marketplace, brings their concerns to the...
Consumer Financial Protection Bureau Unveils New Know Before You Owe Auto Loans Shopping Sheet
Online Guide and Shopping Sheet Help Consumers Evaluate Costs and Shop for Auto Loans.
CFPB Finds One-in-Five Auto Title Loan Borrowers Have Vehicle Seized for Failing to Repay Debt
Majority of Auto Title Loan Business Comes From Borrowers Stuck In Debt for Most of the Year.
CFPB and DOJ Reach Resolution With Toyota Motor Credit To Address Loan Pricing Policies With Discriminatory Effects
Minority Borrowers Who Paid Higher Rates for Auto Loans Will Receive Up to $21.9 Million.
CFPB Takes Action Against Herbies Auto Sales for Unlawful Lending Practices
Subprime "Buy Here Pay Here" Dealer Hid Finance Charges, Deceived Consumers The Bureau today took action against Herbies Auto Sales, a buy-here pay-here...
CFPB Orders CarHop to Pay $6.4 Million Penalty for Jeopardizing Consumers’ Credit
One of Nation's Biggest "Buy-Here, Pay-Here" Auto Dealers Provided Inaccurate Credit Information Today the Bureau is taking action against CarHop, one of...
CFPB Orders Servicemember Auto Loan Company to Pay $3.28 Million for Illegal Debt Collection Tactics
Bureau Sued Auto Lender Earlier This Year for Deception and Threats to Contact Commanding Officers Today the Bureau filed an administrative order against...
CFPB Orders Indirect Auto Finance Company to Provide Consumers $44.1 Million in Relief for Illegal Debt Collection Tactics
Westlake Services and Wilshire Consumer Credit Pressured Borrowers with Illegal Threats and Phony Caller IDs.
CFPB Takes Action Against Fifth Third Bank for Auto-Lending Discrimination and Illegal Credit Card Practices
Company to Pay $18 Million to Minority Auto Borrowers, $3 Million to Credit Card.
CFPB and DOJ Reach Resolution with Honda to Address Discriminatory Auto Loan Pricing
African-American, Hispanic, and Asian and Pacific Islander Borrowers Will Receive $24 Million.
CFPB Takes Action Against Servicemember Auto Lender for Aggressive Debt Collection Tactics
Auto Loan Company Misled Servicemembers About Consequences of Nonpayment Today the Bureau sued an auto loan company, Security National Automotive Acceptance...
CFPB to Oversee Nonbank Auto Finance Companies
Bureau Publishes Exam Procedures for Supervised Companies in $900 Billion Market.
CFPB Takes First Action Against ‘Buy-Here, Pay-Here’ Auto Dealer
The Bureau today took its first action against a "buy-here, pay-here" car dealer. The dealer, DriveTime, harmed consumers by making harassing debt...
CFPB Proposes New Federal Oversight of Nonbank Auto Finance Companies
Bureau Supervision Uncovers Auto-Lending Discrimination at Banks and Obtains $56 Million for Harmed Consumers.
CFPB Takes Action Against Auto Finance Company for Distorting Borrower Credit Reports
First Investors Fined $2.75 Million for Knowingly Providing Inaccurate Information to Credit Reporting Agencies for Years Today the Bureau is taking action...
Statement of CFPB Director Richard Cordray on BMO Harris Auto Lending Policy
Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement responding to news that BMO Harris Bank plans to pay auto dealers a flat percentage of the loan amount to compensate dealers for originating indirect auto loans.
CFPB and DOJ Order Ally to Pay $80 Million to Consumers Harmed by Discriminatory Auto Loan Pricing
Ally to Pay Additional $18 Million in Civil Penalties for Harming More Than 235,000 Minority Borrowers.
CFPB to Hold Auto Lenders Accountable for Illegal Discriminatory Markup
Potentially discriminatory markups in auto lending may result in tens of millions of dollars in consumer harm each year, and the bulletin provides guidance to indirect auto lenders within the CFPB’s jurisdiction on how to address fair lending risk.