Lender Easily Sells Subprime Auto Loan Bundle

Despite turmoil in the auto loan market - delinquencies are up, more people are losing their cars to repossession - Santander Consumer USA still had few problems finding buyers last week for a bond deal consisting of auto loans to credit-troubled borrowers. Collection & Credit Risk

By |2015-03-17T00:25:32-05:00March 17th, 2015|FDCPA|Comments Off on Lender Easily Sells Subprime Auto Loan Bundle

High-Cost Auto Title Loan Lending Accelerates

More than 1.1 million households in the U.S. used auto title loans in 2013, according to a survey by the Federal Deposit Insurance Corp. - the first time the agency has included such loans in its annual survey. Collection & Credit Risk

By |2017-05-20T11:45:14-05:00December 29th, 2014|FDCPA|Comments Off on High-Cost Auto Title Loan Lending Accelerates

FTC Acts Against Auto Dealer Groups for Truth-in-Lending Violations

The Federal Trade Commission is taking action against two auto dealer groups, operating in five states with more than two dozen retail stores, for civil penalties for violating FTC administrative orders prohibiting them from deceptively advertising the cost of buying or leasing a car. Collection & Credit Risk

By |2014-12-15T14:21:11-06:00December 15th, 2014|FDCPA|Comments Off on FTC Acts Against Auto Dealer Groups for Truth-in-Lending Violations

Is the CFPB Overestimating Racial Bias in Auto Loans?

WASHINGTON — The financial services industry believes it has finally discovered proof that the Consumer Financial Protection Bureau uses flawed methods to detect possible discrimination in auto loans. Collection & Credit Risk

By |2014-12-09T12:06:57-06:00December 9th, 2014|FDCPA|Comments Off on Is the CFPB Overestimating Racial Bias in Auto Loans?

CFPB Spotlight on Auto Sector Grows with Dealer Fine

The CFPB has hit the auto dealer DriveTime Automotive Group, and its financing arm DT Acceptance Corp., with an $ 8 million fine, alleging that the group made overly aggressive debt collection calls and provided inaccurate data to the credit reporting agencies. Collection & Credit Risk

By |2014-12-01T09:13:30-06:00December 1st, 2014|FDCPA|Comments Off on CFPB Spotlight on Auto Sector Grows with Dealer Fine

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