Players in the auto finance industry have been watching the Consumer Financial Protection Bureau ping-pong over the last several years regarding disparate impact theories under the Equal Credit Opportunity Act. The disparate...more
Over the past year, our focus as a country and around the world has made a seismic shift toward equality, diversity, and inclusion. In some ways, the financial services industry (at least big banks) had already moved...more
The Servicemembers Civil Relief Act offers servicemembers financial protections, including the ability to have interest rates reduced to 6%, when a servicemember is called to active duty after entering into a credit...more
9/6/2019
/ Active Duty ,
Borrowers ,
Community Property ,
Credit ,
Creditors ,
ECOA ,
Interest Rate Caps ,
Interest Rates ,
Loans ,
Military Service Members ,
Non-Borrower Spouse ,
Servicemembers Civil Relief Act (SCRA) ,
Spouses ,
State Regulators
In February, the U.S. PIRG Education Fund and Frontier Group, two public interest groups, published a paper entitled "Driving Into Debt: The Hidden Costs of Risky Auto Loans to Consumers and Our Communities." The paper...more
5/21/2019
/ Ability-to-Repay ,
Automotive Loans ,
Car Dealerships ,
Credit ,
E-SIGN ,
ECOA ,
High Risk Financial Products ,
Interest Rates ,
Public Interest Entities ,
Public Transportation ,
Subprime Loans ,
Truth in Lending Act (TILA) ,
Unfair Contract Terms ,
Unfair or Deceptive Trade Practices