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.
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Prepared Remarks of CFPB Director Richard Cordray on the First Investors Press Call
Thank you for joining us. Today the Bureau is taking action against an auto finance company that distorted consumer credit records for years. Texas-based...
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.
Prepared Remarks of Director Richard Cordray on the Ally Enforcement Action Press Call
Thank you all for joining us. Today we are announcing that the Consumer Bureau is taking its first enforcement action against discriminatory auto lending...
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.
Hollister K. Petraeus Before the U.S. Senate Committee on Commerce, Science & Transportation
Chairman Rockefeller, Ranking Member Thune, and distinguished Members of the Committee, I'd like to thank you for the opportunity to speak with you today...
Director Cordray Remarks at the CFPB Auto Finance Forum
Thank you all for joining us today. We have convened interested parties to discuss what has indeed become a much-talked-about issue – discrimination that...
Written Testimony of Director Cordray Before the Senate Committee on Banking, Housing and Urban Affairs
Chairman Johnson, Ranking Member Crapo, and Members of the Committee, thank you for inviting me to testify today about the fourth Semi-Annual Report of the...
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.