CFPB Steps Up Efforts to Fundamentally Reform Indirect Auto Finance Industry in Face of Growing Resistance
Richmond partner Alan Wingfield, of counsel Paige Fitzgerald, and associate Nick Klaiber’s Consumer Financial Services advisory “ CFPB Steps Up Efforts to Fundamentally Reform Indirect Auto Finance Industry” was picked up and published by TerraLex.
“The Consumer Financial Protection Bureau is continuing to double down on its ongoing efforts to fundamentally reform basic business practices in the indirect auto finance industry,” stated a summary by TerraLex. “The CFPB has taken four recent steps that convey the message that it intends to continue, and possibly even expand significantly, these reforms; however, judicial resistance to the CFPB's core legal theory may be emerging.”