This week the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) signed a consent agreement with American Honda Finance Corporation in response to discretionary auto loan pricing and compensation practices. CFPB Director Richard Cordray commended Honda for being proactive in addressing these practices, but had Honda been monitoring more closely, they wouldn’t have […]
Category Archives: Fair Lending Hot Topics
Overdraft Protection Violations: A Check-in for Compliance Officers
In April the Consumer Finance Protection Bureau announced that Regions Bank had signed a Consent Order regarding Overdraft Protection violations. While overdraft programs are not exactly front burner issues for most compliance officers, there are some noteworthy findings in this case that compliance officers would do well to give some consideration. Overdraft Protection Violations After […]
Consumer Compliance & Fair Lending Trends: Kansas City Federal Reserve
Beginning on April 7, the Federal Reserve Bank of Kansas City will hold a series of forums to discuss several regulatory compliance hot topics including trends in consumer compliance. The recently released Powerpoint presentation provides some insight into the Fed’s supervisory focus for the coming year. (You can view the presentation here.) The forums will be […]