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Financial Services

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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February Hoosier Banker: Compliance Connection with Partner Lori Jean

Question 1: We have customers who winter in Florida and Arizona. We also have customers who live across the state line in Illinois and Michigan. Can we honor a power of attorney (POA) that was signed in another state, or does the POA paperwork have to be signed in Indiana?

Answer: Yes, you can honor…

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The FAST Act: Regulatory Relief for Financial Institutions

On December 4, 2015, President Obama signed a highway bill, the “Fixing America’s Surface Transportation Act” (the FAST Act). Tacked onto this bill were numerous amendments to banking, securities, and housing laws that are intended to provide "regulatory relief to facilitate capital formation,…

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