News

103 Lawmakers Call on CFPB to Eliminate Mandatory Arbitration

WASHINGTON, D.C. — On Wednesday, more than 100 members of Congress called on the Consumer Financial Protection Bureau (CFPB) to proceed with its effort to eliminate forced arbitration. In two separate letters, 103 members of the House of Representatives and U.S. Senatepraised CFPB Director Richard Cordray for his agency’s proposed rule prohibiting mandatory arbitration clauses in finance contracts. ... Read More »

Millennials Want to Buy Cars, Study Finds

NADA Maintains 17.7 Million Sales Forecast for 2016

Van Over to Establish a Paper Trail at Compliance Summit

O’Loughlin to Tackle ‘Rules and Regulations’ at Compliance Summit

LAS VEGAS —Terry O’Loughlin, director of compliance for Reynolds and Reynolds and a former regulator, will serve as a featured speaker at the upcoming Compliance Summit Las Vegas, organizers announced Tuesday. The conference will be held Aug. 29–30, 2016, at Paris Las Vegas, as part of Industry Summit. “Compliance is one of the more unrelenting — and daunting ... Read More »

Lunt to Deliver Opening Keynote at Compliance Summit Las Vegas

LAS VEGAS — Organizers of Compliance Summit have announced that attorney and compliance expert Aaron Lunt will deliver the opening keynote address at the inaugural Las Vegas event. The conference will be held Aug. 29–30, 2016, at Paris Las Vegas, as part of Industry Summit. “Aaron is an engaging, informed speaker and an expert on the effect of regulatory pressure ... Read More »

Capital Z Acquires Portfolio Group from Frontenac

Lake Forest, CA –  Capital Z Partners Management, LLC (“Capital Z”), a New York-based private equity firm, announced in early July that it has acquired Portfolio Group, Inc. (“Portfolio” or the “Company”) from Frontenac Company, LLC (“Frontenac”), a Chicago-based private equity firm. Terms of the transaction were not disclosed. Based in Lake Forest, CA, and ... Read More »

FTC Announces Significant Hike to Civil Penalty Maximums

WASHINGTON, D.C. — Violations of the Federal Trade Commission’s prohibition on unfair or deceptive acts or practices are going to get more expensive come Aug. 1. That’s when the commission’s interim final rule aimed at increasing a variety of civil penalties takes effect. According to its website, the FTC has approved final amendments to Commission Rule ... Read More »

CFPB Accuses ‘One or More’ Finance Sources of Deceptive GAP Ads, Payment Deferral Offers

WASHINGTON, D.C. — In its summer edition of Supervisory Highlights, the Consumer Financial Protection Bureau accused one or more finance sources of being deceptive in their advertisements of GAP and in the way they disclose payment deferral terms. According to the report, the GAP advertisements gave the impression that the product fully covered the remaining balance ... Read More »

LoJack Issues Warning About ‘Connected Car Thieves’

CANTON, Mass. and IRVINE, Calif. — LoJack, a wholly-owned subsidiary of CalAmp, is alerting consumers to some of the sophisticated techniques vehicle thieves are using to break into today’s connected vehicle. The information shared is part of a consumer campaign the firm rolled out as part of this month’s National Vehicle Theft Protection Month, but it could also ... Read More »