The CFPB recently issued a consent order against 3rd Generation, Inc., doing business as California Auto Finance (California Auto), regarding interest charged on consumers’ late payment of the fee charged for California Auto’s Loss Damage Waiver (LDW) product.  The consent order requires California Auto to refund $168,162 to customers with paid-off accounts, issue $117,582 in credits to customers with active accounts (or refund the difference if the credit would exceed the customer’s balance), and correct or update information furnished to consumer reporting agencies about consumers whose account were charged-off.  … Continue Reading