Today, the Consumer Financial Protection Bureau (CFPB) and the New York State Office of the Attorney General sued a predatory auto lender, Credit Acceptance Corporation, for misrepresenting the cost of credit and tricking its customers into high-cost loans on used cars.
La CFPB y la Fiscal General de NY demandan a Credit Acceptance por ocultar el costo del crédito y engañar a sus clientes con préstamos de altos costos.
Los examinadores de la agencia encuentran violaciones a la ley en muchos productos y servicios financieros.
Agency examiners find legal violations across consumer financial products and services.
Today, the Consumer Financial Protection Bureau (CFPB) penalized Hyundai Capital America (Hyundai) for repeatedly providing inaccurate information to nationwide consumer reporting companies and failing to take proper measures to address inaccurate information once it was identified between 2016 and 2020.
Today the Consumer Financial Protection Bureau (CFPB) released its Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the second half of 2021. The report details key findings across consumer financial products and services.
The Consumer Financial Protection Bureau (CFPB) is moving to thwart illegal repossessions in the heated auto market.
The Consumer Financial Protection Bureau (CFPB) issued a consent order today against 3rd Generation, Inc., doing business as California Auto Finance (California Auto) for illegally charging interest for late payment on its Loss Damage Waiver (LDW) product without its customers’ knowledge.
The Consumer Financial Protection Bureau issued a consent order against Nissan Motor Acceptance Corporation, which services auto loans and leases originated by Nissan and Infiniti dealerships nationwide.
The Consumer Financial Protection Bureau settled with Lobel Financial Corporation, an auto-loan servicer based in Anaheim, California.
The Consumer Financial Protection Bureau issued a report examining the early effects of the COVID-19 pandemic on consumer credit.
The Consumer Financial Protection Bureau took steps to facilitate the transition away from LIBOR for consumers and regulated entities.
Five federal financial institutions regulators and state regulators encourage financial institutions to work with consumers affected by the federal government shutdown.
Company Did Not Properly Disclose Terms and Conditions of Its Auto Loan Add-On Product and Auto Loan Extensions
The Bureau of Consumer Financial Protection (Bureau) today released its 17th edition of Supervisory Highlights.
Today the President signed into law a bipartisan Congressional resolution disapproving a rule that was in the form of guidance issued by the Bureau of Consumer Financial Protection (Bureau) about indirect auto lender compliance with the Equal Credit Opportunity Act (ECOA) and its implementing regulation.
Coordinated Action with Office of the Comptroller of the Currency Requires Bank to Reimburse Affected Borrowers and Pay $1 Billion Fine
Six-Year Auto Loans Carry Higher Costs and Higher Default Rates than Five-Year Auto Loans
Bureau Supervision Requires Some Companies to Change Practices to Prevent Future Violations
Auto Loan Company Failed to Provide Redress For Illegal Collection Tactics
Web-based Tool Will Deliver Regular Updates on Consumer Lending Markets
CFPB Finds Qualified Students Were Blocked From Affordable Loan Repayment Plans; Updates Student Loan Servicing Exam Procedures
Bureau Alleges Lenders Did Not List Required Annual Percentage Rate in Online Loan Advertisements
Report Highlights Violations in Auto Origination, Debt Collection, Mortgage Origination and Small-dollar Lending
The CFPB’s Office of Consumer Response hears directly from consumers about the challenges they face in the marketplace, brings their concerns to the attention of companies, and assists in addressing their complaints. This Monthly Complaint Report provides a high-level snapshot of trends in consumer complaints.
