Yesterday, the CFPB released the Winter 2019 edition of its Supervisory Highlights. The report discusses the Bureau’s examination findings in the areas of automobile loan servicing, deposits, mortgage loan servicing, and remittances. In this blog post, we focus on the Bureau’s findings relating to auto loan servicing. (We will discuss the Bureau’s other findings
auto loan
CFPB report on growth in longer-term “auto loans” could presage increased CFPB scrutiny
By Barbara S. Mishkin & Peter N. Cubita on
Posted in Auto Finance, CFPB Monitor
A new CFPB report, “Growth in Longer-Term Auto Loans”, discusses a CFPB finding that there has been a significant increase in the use of longer-term “auto loans” since 2009. The report could presage greater CFPB scrutiny of longer-term auto loans in supervisory examinations of banks and auto finance companies. This greater scrutiny might…