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Consumer Financial Protection Bureau Director Richard Cordray acknowledged concerns Tuesday about how the agency is regulating indirect auto lenders, vowing to be more transparent about its oversight.
November 12 -
The CFPB has referred at least three auto lenders to the Justice Department for further investigation into possible fair lending violations, even as lawmakers continue to question the agency's authority.
November 4
Automotive lenders have a new way to access data on historical, current and projected vehicle values with the debut of Black Book's Collateral Insight Engine.
The new product aims to help lenders balance portfolios, identify vehicles with higher potential for profitability and better forecast losses, according to Black Book's Thursday press release.
"Auto lenders need to make decisions in a more efficient manner for their portfolio, and Collateral Insight Engine is the most innovative service to bring this level of insight at the click of a button," Jeff Bunch, vice president of Black Book Lender Solutions, said in the release. "With this product, lenders can see how adding or reducing a certain vehicle or segment will impact their portfolio in real time, expediting the decision-making process."
