On May 12, the CFPB terminated a consent order against a credit financing arm of a large motor vehicle company for violations related to the CFPA and FCRA. The order, issued on Nov. 20, 2023, aimed to address issues with the motor vehicle company’s financing and servicing of contracts for optional products sold with vehicles, as well as the furnishing of information to consumer reporting agencies. This order was previously brought by the Bureau’s internal administrative law judge.

Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape.