A federal judge denied a request by a high-ranking CFPB official for a preliminary injunction to remove President Trump’s appointee as acting head of the agency. The decision sets the stage for a possible appeal.
Based on an interpretive rule issued by the Defense Department on Dec. 14, including credit-protection products like GAP in a servicemember’s vehicle finance contract could subject it to a slew of restrictions and requirements under the Military Lending Act (MLA).
About a month after dismissing its former head of consumer lending, Wells Fargo named Mary Mack to the post. The 33-year Wells Fargo veteran will maintain her prior duties as senior executive vice president of community banking, which she has led since July 2016.
The Fair Credit Reporting Act’s ‘business records turnover provision’ requires that business provide free of charge and without subpoena records relating to the theft within 30 days of a victim’s written request.
Add Cox Automotive to the growing list of tech vendors and dealers alleging that CDK and Reynolds and Reynolds Co. conspired to eliminate competition for data integration services and seize control over dealer and third-party data.
The Government Accountability Office said on Tuesday that the bureau’s March 2013 bulletin on dealer participation falls under the Congressional Review Act, a decision that clears the way for the Republican-controlled Congress to repeal the bureau’s controversial guidance.
Sen. Chris Dodd and former Rep. Barney Frank say the CFPB-creating law bearing their names does not fall under the purview of the Federal Vacancies Reform Act. They joined other Democrats and activists last week in announcing plans to challenge a federal judge's ruling that denied a CFPB official's attempt to block President Trump’s interim director appointee.
A federal judge refused to block the appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau, but the Trump administration’s victory may only be temporary.
Staffers with the CFPB returned from the Thanksgiving break on Monday to two acting directors, a lawsuit, dueling emails, and a bag of doughnuts.
In an employee email obtained by F&I and Showroom, CFPB Director Richard Cordray announced he will leave his post by the end of November.
Republican Senator Mike Crapo (R-Idaho) told reporters on Wednesday he’s getting closer to brokering a deal on bipartisan legislation aimed at rolling back parts of the Dodd-Frank Act.
The Southern California-based dealer group was charged with violating a 2014 administrative order prohibiting it from misrepresenting in advertisements how much consumers could pay to finance or lease a vehicle.
The vice president cast his tiebreaking vote late Tuesday night. The measure now heads to President Trump's desk, where it is likely to be signed. Once it does, not only will the CFPB's arbitration rule be invalidated, the bureau won't be allowed to issue a similar rule unless authorized to do so in a subsequent law.
The National Consumer Law Center is calling on lawmakers and regulators to investigate how dealers price F&I protections, claiming that an analysis of approximately 1.8 million vehicle transactions revealed inconsistent and discriminatory price markups over a span of six years.
The attorney general's two-year crackdown on payment packing and the unlawful sale of credit repair services has resulted in 13 dealership settlements and more than $19 million in total restitution and penalties.
Dealers and F&I professionals from across the nation gathered at the Caribe Royale Orlando on Monday, Oct. 8, for Compliance Summit 2018. Attendees enjoyed a full day of advanced training, keynotes, and networking sessions, followed by Automotive Compliance Education (ACE) certification on Tuesday.
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