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CFPB’s Summer Edition of Supervisory Highlights Focuses on Auto Lending/Servicing and Debt Collection Practices

Troutman Sanders

The Bureau last did this in 2016 by announcing in Supervisory Highlights that auto finance companies should prohibit repossession agents from charging personal property storage and retrieval fees, and the Bureau followed that announcement with both supervisory activity and a consent order in 2020 on the same subject.

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Troutman Pepper Weekly Consumer Financial Services Newsletter

Troutman Sanders

Court of Appeals for the Fourth Circuit held that the Military Lending Act (MLA) does not govern loans borrowed in part to finance the purchase of a car, even when the loan covers additional related costs. For more information, click here. On April 12, U.S. For more information, click here. On April 7, U.S.