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Automotive Loans Fair Credit Reporting Act (FCRA) Financial Services Industry

Goodwin

CFPB Enters Into Consent Order with Bank Resolving Allegations of Force-Placed-Insurance

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On July 9, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a national bank, resolving allegations related to the bank’s auto lending practices....more

Troutman Pepper

9 Consumer Finance Issues to Note From CFPB Report

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In July, the Consumer Financial Protection Bureau published a report highlighting various unfair, deceptive, and abusive acts or practices it claims to have uncovered during its supervisory examinations from July 2022 to...more

Goodwin

CFPB Enters Into $60M Consent Order with Vehicle Lending Credit Corporation

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On November 20, 2023, the Consumer Financial Protection Bureau (CFPB​​) announced that it entered into a consent order with the auto-financing arm of a major automaker in the amount of $60 million, resolving allegations...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights - Issue 2, July 2023

CFPB Issue Spotlight Analyzes “Artificial Intelligence” Chatbots in Banking - "Poorly deployed chatbots can impede customers from resolving problems." Why this is important: The Consumer Financial Protection Bureau...more

Goodwin

CFPB Enters Into $4.75 Million Consent Order With Subprime Auto Lender and Servicer for FCRA Violations

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On December 22, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a national lender and originator of subprime auto loans over the company’s alleged violations of...more

Ballard Spahr LLP

CFPB issues special edition of Supervisory Highlights focused on consumer reporting

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The CFPB has issued a special edition of its Supervisory Highlights that focuses on compliance with the FCRA and Regulation V. The report contains two main sections, with one devoted to supervisory observations at furnishers...more

Ballard Spahr LLP

CFPB Summer 2019 Supervisory Highlights looks at GAP products, credit card practices, debt collection, furnishing to consumer...

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The CFPB has released the Summer 2019 edition of its Supervisory Highlights.  The report discusses the Bureau’s examination findings in the areas of automobile loan originations, credit card account management, debt...more

Carlton Fields

Court Refuses To Reconsider Arbitrator’s Factual Determinations

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In a case emphasizing the deference courts give to factual findings of arbitrators, a magistrate judge in the Eastern District of New York has confirmed an arbitration award granting damages and attorneys’ fees to a company...more

Ballard Spahr LLP

CFPB issues Fall 2016 Supervisory Highlights

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In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

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