In This Issue:
- FEDERAL ISSUES
- STATE ISSUES
- FIRM NEWS
- FIRM PUBLICATIONS
- CONSUMER FINANCE
- Excerpt from Consumer Finance:
CFPB Issues Guidance on Indirect Auto Lending. On March 21, the CFPB issued Bulletin 2013-02, which provides guidance to bank and nonbank indirect auto lenders about compliance with federal fair lending requirements, and specifically addresses the practice by which auto dealers "mark up" the indirect lender's risk-based buy rate and receive compensation based on the increased interest revenues....
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Topics: Automotive Industry, Bank Secrecy Act, Car Dealerships, CFPB, DOJ, ECOA, Fair Lending, FDCPA, FHFA, FinCEN, Fraud, Freddie Mac, Leveraged Loans, Mortgage Loan Servicing Standards, NCUA, OIG, SEC
Published In: General Business Updates, Consumer Protection Updates, Finance & Banking Updates, Residential Real Estate Updates, Securities Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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