Fears of CFPB overreach on auto loans prompt Congressional action

The Dodd-Frank law of 2010 that created the Consumer Financial Protection Bureau included an amendment that specifically exempted auto dealers from regulation by the new entity. Despite that prohibition, the CFPB has taken steps to indirectly regulate the industry by proposing new rules applicable to the banks that work with auto dealers to provide auto financing.

Dubious research at the CFPB

A scathing article this week in Forbes offers a startling look at some dubious research practices used by the Consumer Financial Protection Bureau when investigating alleged discriminatory lending in the auto loan industry.

Credit Unions seek relief from new Congress

The National Association of Federal Credit Unions has submitted a letter to Congressional leaders outlining its top priorities for 2015. Among other things, the letter calls for relief from over-regulation by the Consumer Financial Protection Bureau.

The CFPB has misled consumers

The CFPB is chomping at the bit to paint itself as consumers’ financial avenger. Unfortunately, the CFPB’s marketing department is so interested in shaping the bureau’s image that it has started to leave fact behind.

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