Tag Archives: CFPB

Senate Votes to Roll Back Auto Industry Lending Guidance from Consumer Financial Protection Bureau

On April 18, the Senate narrowly passed a resolution to roll back certain guidance issued by the Consumer Financial Protection Bureau in 2013 pertaining to auto lending.  As previously written about on a Foley & Lardner LLP blog, the CFPB issued the specific guidance through a bulletin regarding compliance with fair lending requirements for auto … Continue reading this entry

Think Twice Before Making Payroll Advances to Employees

It can be difficult to turn down an employee who asks for an advance on their earnings, especially in what has become a highly competitive environment for qualified automotive employees. However, there are lots of reasons for automotive companies to think twice before making payroll advances to employees.… Continue reading this entry