In a new Data Point report, “Subprime Auto Loan Outcomes by Lender Type,” the CFPB looks at how interest rates and default risk vary across different types of subprime lenders, and how much of the variation in interest rates among subprime loans can be explained by differences in default rates. The CFPB
auto loan
CFPB Summer 2019 Supervisory Highlights looks at GAP products, credit card practices, debt collection, furnishing to consumer reporting agencies, reverse mortgages
The CFPB has released the Summer 2019 edition of its Supervisory Highlights. The report discusses the Bureau’s examination findings in the areas of automobile loan originations, credit card account management, debt collection, furnishing, and mortgage originations.
Key findings include the following:
Auto loan originations. Auto lenders were found to have engaged in an abusive…
CFPB Supervisory Highlights looks at auto loan ancillary product refunds
By Ballard CFS Group on
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…
CFPB report on growth in longer-term “auto loans” could presage increased CFPB scrutiny
By Barbara S. Mishkin & Ballard CFS Group on
Posted in Auto Finance, Regulatory and Enforcement
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…