Articles

Compliance Insider: A Rose By Any Other Name

Compliance Insider: A Rose By Any Other Name

Last month I wrote about the Consumer Financial Protection Bureau’s proposed rule to regulate “Payday, Vehicle Title, and Certain High-Cost Installment Loans,” and its intrusion into traditional vehicle finance. I’ve spent more time reviewing the proposed rule, and have concluded that the CFPB has very likely drafted a proposal thatRead More

5 Questions Your Board Should Be Asking the Chief Compliance Officer

5 Questions Your Board Should Be Asking the Chief Compliance Officer

As fiduciaries, board members have a responsibility to shareholders to oversee many aspects of a company’s business, including compliance with laws and regulations. Board oversight of compliance is also an expectation of federal and state regulators. As a corporate governance advisor and a current Chief Compliance Officer, I have seenRead More

After a CFPB Exam: Act and Act Fast

After a CFPB Exam: Act and Act Fast

Let’s say your company just finished an examination by the Consumer Financial Protection Bureau and has emerged without any legal violations or public consent enforcement orders. Congratulations! But don’t start celebrating just yet — the CFPB did find that some of your company’s internal operations were a little bit lax andRead More

Hints of an Auto Lending Plateau

Hints of an Auto Lending Plateau

These have been the best of times. Auto lending over the past few years has hit new highs, buoyed by vibrant car sales. It would be tough to find an auto finance venture that hasn’t benefited from the strong SAARs in recent years. As an example, by the end of lastRead More

Harness Startup’s Tech — A Game Winning Strategy for Lenders

Harness Startup’s Tech — A Game Winning Strategy for Lenders

With the auto finance industry evolving rapidly — particularly as startups and fintech companies attempt to disrupt the space — it can be difficult for some lenders to keep up to speed with changing technology trends, said Chris Ballinger, chief financial officer and global chief officer of strategic innovation atRead More

Compliance Insider: Another Step Too Far

Compliance Insider: Another Step Too Far

The Consumer Financial Protection Bureau recently issued a proposed rule to regulate “Payday, Vehicle Title, and Certain High-Cost Installment Loans.” It purports to cover two categories of loans: Among other things, the proposed rule looks to treat both categories of loans as illegal to the extent the lender does notRead More

CFPB Appears Poised to Increase Its Focus on Auto Lending

CFPB Appears Poised to Increase Its Focus on Auto Lending

By Blair B. Evans and Craig Nazzaro, Baker Donelson The Consumer Financial Protection Bureau utilizes a risk-based analysis in its approach to its supervisory and enforcement efforts. The Bureau’s risk-based approach includes factors such as the potential risk to a consumer from products offered in the market and complaints generatedRead More