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Automobile finance examination procedures

Updated June 10, 2015


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 the 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 Compliance Management System 
  • Module 3 Advertising and Marketing 
  • Module 4 Application and Origination 
  • Module 5 Payment Processing, Account Maintenance, and Optional Products 
  • Module 6 Collections, Debt Restructuring, Repossessions, and Accounts in Bankruptcy 
  • Module 7 Customer Complaints and Inquiries 
  • Module 8 Credit Reporting, Information Sharing, and Privacy 
  • Module 9 Examiner Conclusions and Wrap-up