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CFPB Enforcement and Penalties Bring Industry Reaction
2013-07-19 19:21:08| AutomotiveDigest.com - Automotive Industry News
The first significant penalty from the Consumer Financial Protection Bureau in connection with vehicle financing a development associated with approximately $6.5 million in revenue for two companies. Compliance experts from Reynolds and Reynolds and Dealertrack Technologies explain how the first enforcement action against the vehicle financing industry by the Consumer Financial Protection Bureau might give more detail about the agency's regulatory agenda. The situation between auto dealers, their financing networks and the Consumer Finance Protection Bureau are far from resolved, but dealers need to keep themselves informed of the happenings in order to understand their role in CFPB compliance. [Read more]
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Category:Automotive