About the CFPB’s “Data Spotlight”
Today, the CFPB released a “Data Spotlight,” which focused on an analysis of negative equity data from a group of auto finance entities. As background, in February 2023 the Bureau announced a pilot data project and issued nine market monitoring orders to auto lenders. This report is the first in a series using data from the collection.
While we continue to review this initial report, AFSA appreciates the Bureau’s clear, objective, and straightforward reporting of the data. At the same time AFSA continues to disagree with the Bureau over its view of the amount of available data on auto financing. While the Bureau states that “detailed information about the market is limited or non-existent,” AFSA has cited many sources for data on the market.
June 17th, 2024
