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Financial Services

CFPB Proposed Payday/Installment Loan Rule

The Consumer Financial Protection Bureau (the “CFPB” or the “Bureau”) released their Proposed Payday, Vehicle Title and Certain High Cost Installment Loans Rule (the “Proposed Rule”) on June 2, 2016 in conjunction with their planned Field Hearing on Small Dollar Lending. While the Proposed Rule is…

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CPFB continues enforcement focus on auto finance industry with action against buy-here-pay-here dealer in late January for TILA and CFPA violations

The Consumer Financial Protection Bureau (the “CFPB,” or the “Bureau”) continuing its focus on the auto finance industry, recently announced a Consent Order (available by clicking here), with a small Buy Here Pay Here (“BHPH”) auto dealer called Herbies Auto Sales (“Herbies”) for a series of…

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