The Consumer Financial Protection Bureau (CFPB) has previously targeted the automotive finance industry for dealer-arranged auto lending and abusive loan servicing practices. However, as federal regulation of this arena retreats, state regulation is actively patrolling the associated regulatory gaps. The automotive finance industry may soon face increased legal threats from state regulators and attorney generals. […]
Tag: auto financing
The Impact of Interest Rate Hikes on the Auto Industry
As the labor market strengthens and economy activity rises, the Federal Reserve has raised the Federal Funds Rate a quarter percentage point in order to continue to sustain conditions where businesses and individuals can thrive. Currently, short-term rates are between 1.75% and 2%—up a full percentage from 2017—affecting all market sectors including the automotive industry. […]