The Consumer Financial Protection Bureau made news this year when it announced that it considered discrimination to be illegal as an "unfair" practice, including in situations where fair lending laws do not apply. In March,...more
Part Three: Risk Reward Will Always be Part of the Subprime Future -
We resume our conversation where we left off on Part Two with a question citing the Taskforce report with recommendations for improved financial...more
Every day, financing providers offer financing to customers. Sometimes they encourage a customer to apply for credit with the dealer by saying that they can offer the customer the best financing deal. Such a claim got a Ford...more
This article is the first of an exclusive three-part series interview with Jean Noonan, member of the CFPB Taskforce on Federal Consumer Law.
In January 2020, the Consumer Financial Protection Bureau (CFPB) appointed a...more
The novel coronavirus upended American lives, changing how we work, how we socialize, how we shop, and - for millions of us - whether we are still employed. For many creditors, it also changed patterns of consumer default. In...more
Your company gets an irate call from a customer whose car you have just repossessed for non-payment. The caller is furious because he made a payment that was supposed to prevent a repossession. After you confirm the payment,...more
6/5/2019
/ Automotive Loans ,
Best Practices ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Customers ,
Debt Collection ,
Employee Training ,
Mistake ,
Policies and Procedures ,
Process Improvement ,
Repossess ,
Required Communications ,
Risk Assessment ,
Risk Mitigation