As Acting Director Mick Mulvaney has stated, the Consumer Financial Protection Bureau (CFPB) appears to be discarding its former governing philosophy of “pushing the envelope” through aggressive prosecution, and embracing a more case-by-case approach to enforcement.
Only time will tell if this new direction will stick or if this style of enforcement causes the regulatory pendulum to swing back harder in the other direction.
In either scenario, there’s a reason lenders aren’t popping champagne and turning off their compliance management systems: the CFPB is just one regulator among many.
Changes may be afoot at the Bureau but that doesn’t mean lenders are off the hook for compliance. Quite the opposite, in fact. From the Federal Trade Commission (FTC) to the Justice Department to state attorneys general, there’s an alphabet soup of institutions poised to fill any vacuum left by changes at the CFPB.
With all that in mind, we invite you to join AFSA and Compli next Wednesday, April 18 at 2 p.m. ET for a free live webinar entitled Regulatory Alphabet Soup: As the CFPB Evolves, Who’s Watching Lenders Now?
Led by compliance experts Michael Benoit, Chairman of Hudson Cook, and Brian Larson, Director of Sales at Compli, they will take you through what you need to know as the alphabet soup of regulators line up to keep the fuel on the regulatory fire.
Sign up now to reserve your seat.
Regulatory Alphabet Soup: Get to Know the Players Tapping in for the CFPB
Apr 10, 2018
As Acting Director Mick Mulvaney has stated, the Consumer Financial Protection Bureau (CFPB) appears to be discarding its former governing philosophy of “pushing the envelope” through aggressive prosecution, and embracing… Read the rest
AFSA Comments on Legislation Regulating Payment Assurance Devices
Apr 10, 2018
On April 10, AFSA submitted a comment letter to the Illinois Senate Judiciary Committee in opposition to Senate Bill 2521, which would create certain conditions for the use of electronic tracking technology or starter interrupt technology… Read the rest
THE EDGE Program Registration Deadline Approaching!
Apr 05, 2018
The registration deadline for THE EDGE is approaching!
THE EDGE program, held June 10-15, provides high-quality training for branch managers and team leaders by providing layered modules of learning that provide a sound basic knowledge… Read the rest
AFSA Publishes Rate Cap Legislation White Paper
Apr 02, 2018
On April 2, AFSA’s State Government Affairs department published its recent rate cap legislation white paper. AFSA’s white paper examines recent measures proposed by states to impose rate caps, including those that use an … Read the rest
Transparency, Technology, Customer Service Major Topics at AFSA’s CEO Panel
Mar 29, 2018
CEOs of leading vehicle finance companies representing captives, banks and independent subprime lenders engaged in a lively roundtable discussion on topics ranging from the impact of technology to taking care of a new wave of maturing Millennial… Read the rest
HDFS President Named Chair; Ally Financial President, Auto Division, Named Vice Chair of AFSA Vehicle Finance Division
Mar 26, 2018
Larry Hund, President and Chief Operating Officer, Harley-Davidson Financial, was installed as the new chair of the American Financial Services Association (AFSA) Vehicle Finance Division Board at the conclusion of the division’s… Read the rest
Ammann Headlines 2018 Vehicle Finance Conference
Mar 21, 2018
Dan Ammann, President of General Motors, outlined GM’s bold vision for the future in the Keynote Speech Wednesday at the annual American Financial Services Association’s Vehicle Finance Conference & Expo.
We’ve… Read the rest
Court Announces Key TCPA Decision; AFSA Hosting Webinar Next Week
Mar 19, 2018
On March 16, 2018, the D.C. Circuit issued its long-anticipated ruling in ACA International, et al. v. FCC. The decision resolved a series of challenges to the July 10 2015 Declaratory Ruling & Order of the Federal Communications … Read the rest
AFSA’s annual Vehicle Finance Conference & Expo kicks off next week
Mar 15, 2018
The American Financial Services Association (AFSA) will hold its annual Vehicle Finance Conference & Expo next week, March 20-22, at the Bellagio in Las Vegas, highlighting the creative and disruptive influence of innovation … Read the rest
Direct Lending in Auto Finance Aided by FinTech
Mar 09, 2018
Digital technology and fintech innovation in the auto lending space are enabling direct lending to become more popular among car buyers, said, representatives of direct lending companies at the Auto Finance Innovation conference, this… Read the rest