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.
About the CFPB’s “Data Spotlight”
Jun 17, 2024
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… Read the rest
CFPB’s Semi-Annual Report to Congress
Jun 14, 2024
This week, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before the Senate Banking Committee and the House Financial Services Committee for his semi-annual report to Congress.
In both, Director Chopra focused… Read the rest
This NPRM Needs a Second Opinion
Jun 11, 2024
The Consumer Financial Protection Bureau (CFPB) today announced a Notice of Proposed Rulemaking(NPRM) aimed at addressing the reporting of medical bills on credit reports. This initiative follows the CFPB’s September 2023 announcement… Read the rest
Featured Business Partner | Fortegra
Jun 04, 2024
The featured Business Partner for the month of June is Fortegra.
For more than 40 years, Fortegra and its subsidiaries have delivered risk management solutions that help people and businesses succeed in the face of uncertainty.
Our diverse
The CFPB Just Doesn’t Get It
Jun 03, 2024
Today, the Consumer Financial Protection Bureau finalized a proposal to create a nonbank registry related to enforcement matters. The final rule requires certain nonbank entities to register information about their company and certain… Read the rest
News From Our Members | Alfa Systems 6 moves ahead with its fourth pillar, Scalability
May 28, 2024
Alfa, a leading provider of enterprise software for the automotive finance industry, has announced the release of Scalability, the fourth of six releases that make up Alfa Systems 6 – a breakthrough iteration of its Alfa Systems software… Read the rest
Despite SCOTUS Ruling, CFPB Oversight Needed
May 16, 2024
Today, the U.S. Supreme Court handed down its ruling in the much-anticipated Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA) case that challenged the CFPB’s independent funding… Read the rest
Capital Challenges | 2024 Independents Conference & Expo
May 02, 2024
As our industry adapts to the evolving financial and economic landscape while seeking to capitalize on emerging opportunities, broadening the pool of capital providers and expanding funding options is top of mind.
Join our all-star panel… Read the rest
Updating the Economic Outlook
May 02, 2024
The Federal Reserve announced Wednesday that it would leave its short-term interest rate target unchanged at 5.25 percent to 5.5 percent. The news was not a surprise. That the Fed would remain on hold was considered a near certainty in the weeks… Read the rest
News From Our Members | New PayNearMe Research Reveals Growing Importance of Customer Experience in Loan Repayment
May 01, 2024
In PayNearMe’s new study “Consumer Trends Driving the Future of Loan Payments,” we reveal that challenges in the loan repayment process and poor payment experiences jeopardize customer loyalty and retention for lenders.… Read the rest