The Need for Monitoring: Honda Motors Consent Agreement

This week the the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) signed a consent agreement with American Honda Finance Corporation in response to discretionary auto loan pricing and compensation practices. CFPB Director Richard Cordray commended Honda for being proactive in addressing these practices, but had Honda been monitoring more closely, they wouldn’t […]

Data Driven Regulation: What It Means for Fair Lending Compliance

The Consumer Finance Protection Bureau prides itself on being a data driven organization when it comes to fair lending compliance. What does that mean for a compliance officer? More importantly, what does it mean for your next fair lending compliance exam? Does it mean more number crunching? In part, yes, but it also means much […]

Regions Bank Overdraft Protection Violations

Overdraft Protection Violations: A Check-in for Compliance Officers

In April the Consumer Finance Protection Bureau announced that Regions Bank had signed a Consent Order regarding Overdraft Protection violations. While overdraft programs are not exactly front burner issues for most compliance officers, there are some noteworthy findings in this case that compliance officers would do well to give some consideration. Overdraft Protection Violations After […]