By Faye Ricci on Posted in Auto Finance,CFPB,TILA/RESPA,UDAAP,UncategorizedOn June 10, 2015, the CFPB published a rule that will allow the agency to supervise nonbank auto finance companies that make, acquire or refinance 10,000 or more loans or leases a year. This rule was originally proposed in September 2014 and is the fifth in a series of rulemakings to define larger participants of markets… Continue Reading
By Faye Ricci on Posted in Auto Finance,CFPB,Credit Cards,Debt Collection,Mortgage ServicingThe CFPB has exclusive supervisory authority over depository institutions that have assets totaling more than $10 billion dollars. For these depository institutions, the CFPB is the primary rule maker and enforcer of consumer protection laws applicable to these institutions. For depository institutions that have $10 billion or less in total assets, the Federal Reserve Board… Continue Reading
