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Automobile finance examination procedures

Updated August 28, 2019

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These automobile finance examination procedures consist of modules covering the various elements of the automobile life cycle, including the origination and servicing processes. Each module identifies specific matters for review.

Examiners will use the procedures in examinations of automobile lenders, lessors, and servicers. Before using the procedures, examiners should complete a risk assessment and examination scope memorandum in accordance with general Consumer Financial Protection Bureau (CFPB) procedures. Depending on the scope, and in conjunction with a compliance management system review, including consumer complaint review, each examination will cover one or more of the following modules:

  • Module 1 Company Business Model 
  • Module 2 Advertising and Marketing
  • Module 3 Application and Origination 
  • Module 4 Payment Processing and Account Maintenance
  • Module 5 Collections, Debt Restructuring, Repossession, and Accounts in Bankruptcy
  • Module 6 Credit Reporting, Information Sharing, and Privacy
  • Module 7 Examiner Conclusions and Wrap-up