On August 8, 2025, the Consumer Financial Protection Bureau (“CFPB”) issued four advance notices of proposed rulemaking (“ANPR”) inviting comments on whether it should substantially reduce the number of nonbank companies the CFPB supervises in the auto finance, international money transfer, debt collection, and consumer credit reporting markets. An agency spokesperson told Law 360, “As part of President Trump’s overhaul of this abusive agency, ‘Larger Participant’ regulations are open for re-examining after more than a decade.… Continue Reading
auto financing
Trade groups urge CFPB to respond to AFSA vehicle sales finance study
By Barbara S. Mishkin on
Five prominent industry trade groups sent a letter to the CFPB yesterday seeking “to engage the CFPB in a constructive dialogue” on the study of indirect auto financing commissioned by the American Financial Services Association. The study, which was conducted by Charles River Associates, found that the CFPB’s proxy methodology for measuring disparities in auto dealer reserve was “conceptually flawed in its application and subject to significant bias and estimation error.” … Continue Reading