In our daily 24/7 news cycle, perspective can be fleeting. We fail to consider the ebb and flow of events, especially anything with political overtones. Although the world of finance prefers consistency, the one thing we can count on is change. Lately, the topic of compliance has been buffeted by change. From regulation to deregulation, the various local, state, and … [Read more...] about What the Auto Finance Industry Can Learn From the Lessons of History
CFPB
Dealer Reserve Remains in Jeopardy, Even With CFPB Rollback
The recently approved resolution to repeal the Consumer Financial Protection Bureau’s (CFPB) dealer participation guidance by both the U.S. Senate and House of Representatives got me thinking about the struggle dealers are having in preserving their often relied-upon dealer reserve. My conclusion: This important profit center is in jeopardy regardless of what the CFPB is up … [Read more...] about Dealer Reserve Remains in Jeopardy, Even With CFPB Rollback
House Repeal of CFPB Auto Lending Guidance Good News for Dealers
Alexandria, VA — May 8, 2018 — The American International Automobile Dealers Association (AIADA) today applauded the United States House of Representatives' passage of a joint resolution annulling the Consumer Financial Protection Bureau's controversial auto lending guidance, which sought to limit a consumer's ability to receive a discounted auto loan from a dealer. The … [Read more...] about House Repeal of CFPB Auto Lending Guidance Good News for Dealers
Auto Dealers Applaud Vote to Repeal CFPB Auto Lending Guidance
Alexandria, VA — April 18, 2018 — The American International Automobile Dealers Association (AIADA) today reacted with optimism to the United States Senate's passage by a vote of 51-47 of a joint resolution annulling the Consumer Financial Protection Bureau's controversial auto lending guidance, which sought to limit the retail margins dealerships could earn while arranging a … [Read more...] about Auto Dealers Applaud Vote to Repeal CFPB Auto Lending Guidance
Trump Administration Could Have Big Effect on CFPB and Auto Industry Compliance
Birmingham, AL — December 5, 2017 —President Donald Trump’s signing of an executive order designed to scale back the Dodd-Frank Act could have major ramifications in the automotive industry. An Alabama lawyer who represents auto dealers says they should be aware of the implications for automotive compliance with the Consumer Financial Protection Bureau (CFPB), which was … [Read more...] about Trump Administration Could Have Big Effect on CFPB and Auto Industry Compliance