Auto lenders ignore CFPB at their own peril, lawyer says

09/11/2013 | Automotive News

Auto lenders that have not eliminated their dealer reserve and switched to flat fees as the Consumer Financial Protection Bureau suggested will trigger a closer look by the agency, says lawyer Mike Thurman. He says auto lenders need to put policies and procedures in place to measure and monitor loans or "you're pretty much a sitting duck" for the CFPB.

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