agent Entrepreneur logo
MenuMENU
SearchSEARCH

SMART Payment Plan Resolves CFPB Investigation

SMART has completed a 4 year investigation with the CFPB.

November 3, 2020
SMART Payment Plan Resolves CFPB Investigation

SMART has completed a 4 year investigation with the CFPB. 

1 min to read


SMART Payment Plan’s CEO, David Engelman, and Chief Compliance Officer, Jackson Bigham, are pleased to announce that SMART has completed a 4-year investigation with the CFPB.

The result of this investigation and settlement demonstrates our focus on compliance and the value of our service to consumers.

Ad Loading...

After a thorough and rigorous investigation, SMART Payment Plan agreed to a Consent Order with a "Relevant Period" from January 1, 2012 to March 15, 2015. Although SMART does not admit to any of the CFPB's alleged facts or findings, SMART found it more economical and time-efficient to settle the matter. Notably, all of SMART's current marketing materials, contracts and disclosures are compliant with the terms of the Consent Order.

“We are glad to close this matter and to continue serving our customers who love our lower and easier payments and the dealers who offer our valued service,” said Engelman.

“The result of this investigation and settlement demonstrates our focus on compliance and the value of our service to consumers,” said Bigham. “We are excited to have crossed this significant regulatory hurdle so we can continue focusing on helping leading automotive dealers better serve their customers with our lower and more affordable payments that match their paydays,” said Bigham.

Originally posted on F&I and Showroom

More Industry

Blue and white RV parked on beach facing the ocean.
Industryby Lauren LawrenceSeptember 3, 2026

RV Group Expands Carolina Footprint

Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.

Read More →
Photo of two men and one woman on a discussion panel
Industryby Hannah MitchellSeptember 1, 2026

Agent Acumen

An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.

Read More →
Gloved hand holding two wrenches next to “Turn Overdue into Opportunity” Graphic
Industryby Lauren LawrenceAugust 27, 2026

Missed Maintenance Creates Opportunity

As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.

Read More →
Ad Loading...
Mitsubishi shadow line-up
Industryby Hannah MitchellAugust 25, 2026

Mitsubishi Unveils U.S. Plan

The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.

Read More →
Photo of a laptop, cellphone and eyeglasses on a desk next to an office window
IndustryAugust 24, 2026

Selling to Grow

The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.

Read More →
Mechanic holding a vehicle diagnostic device while standing above an open car hood
Industryby Hannah MitchellAugust 24, 2026

Recalled Vehicles Hit 5-Year High

Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.

Read More →
Ad Loading...
outside of car dealership with cars parked in front
Industryby Lauren LawrenceAugust 20, 2026

Auto Group Acquires Top-Performing Rooftop

Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.

Read More →
Cars from the rear on a Shanghai freeway
Industryby Hannah MitchellAugust 19, 2026

China as Pacesetter

Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.

Read More →
Orange BMW car on empty road.
Industryby Hannah MitchellAugust 14, 2026

BMW Concept Car Makes Fuel to Burn

The prototype developed in concert with a South Carolina university engineering team generates more solar energy than it uses in a typical daily commute.

Read More →
Ad Loading...
Six men standing for photo outside of car dealership
Industryby Lauren LawrenceAugust 13, 2026

South Carolina Auto Group Downsizes

Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.

Read More →
Ad Loading...