In this article, we share a timeline of our monthly "bites" for 2022 applicable to the auto finance industry.
So, what happened in 2022?...more
1/11/2023
/ Automotive Industry ,
Automotive Loans ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Data Security ,
ECOA ,
Enforcement Actions ,
Nonbank Firms ,
Repossess ,
Rulemaking Process ,
Supervision ,
UDAAP
A new CFPB chief, Rohit Chopra, was nominated by then President-elect Biden on January 18, promising to bring the CFPB back to life. What kind of action should auto lenders expect, and how will it affect the auto repossession...more
One of the largest recovery associations in the country recently proposed implementation of a COVID-19 surcharge and a new set of post-pandemic policies and also issued a white paper setting forth uniform standards for...more
7/15/2020
/ American Recovery Association ,
Civil Liability ,
Compliance ,
Compliance Costs ,
Coronavirus/COVID-19 ,
Creditors ,
Infectious Diseases ,
Personal Property ,
Personal Protective Equipment ,
Repossess ,
Surcharges ,
White Papers ,
Workers' Compensation Claim ,
Workplace Injury ,
Workplace Safety
I just finished up a very active conference season. I’ve been on the “conference circuit” as some would say, since early January. Being on the conference circuit has enabled me to re-connect with friends, colleagues, clients...more
10/7/2019
/ Automotive Industry ,
Automotive Loans ,
Car Dealerships ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Enforcement Actions ,
False Advertising ,
Federal Trade Commission (FTC) ,
Repossess ,
Risk Assessment ,
Risk Mitigation ,
Trump Administration ,
Unfair or Deceptive Trade Practices
Do you truly know what the repossession agents you’ve assigned to repossess one or more of your cars for you are doing? I’m hearing more and more about a very disturbing practice in the repossession services industry that,...more
6/28/2019
/ Agents ,
Automotive Loans ,
Car Dealerships ,
Class Action ,
Default ,
GPS ,
Invasion of Privacy ,
Misdemeanors ,
Penal Code ,
Repossess ,
Stalking ,
Tracking Systems ,
Unfair or Deceptive Trade Practices ,
Vicarious Liability ,
Without Consent