CFPB Issues Consent Order to Auto Financing Company over CFPA Violations

The CFPB recently issued a Consent Order against a defendant auto financing subsidiary that services auto loans and leases originated by two separate car companies.  In addition to a civil monetary penalty of $4 million, the defendant is also required to pay $1 million to those whose vehicles were wrongfully repossessed based on the number of days the vehicle was wrongfully repossessed.  Defendant is also required to forgive outstanding charges associated with those consumer’s whose vehicles...
By: Weiner Brodsky Kider PC

Weiner Brodsky Kider PC