The long-term impact of the July 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act has yet to be felt by lenders.
Since Dodd-Frank was signed into law, the Consumer Finance Protection Bureau (CFPB) has primarily focused on real estate-secured lending. In recent months, though, the regulators have shifted their attention to consumer lending primarily credit card and collateral-secured loans such as automobiles.
As the scope and range of new rules and regulations continue to develop, a pattern of CFPB cause and effect has evolved over time. This year, the indirect auto lending arena is in the early stages of getting their turn to face the same kinds of regulatory effects.
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