CFPB Moves to Thwart Illegal Auto Repossessions
The Consumer Financial Protection Bureau (CFPB) is moving to thwart illegal repossessions in the heated auto market. A compliance bulletin issued yesterday reveals conduct observed during CFPB examinations and enforcement actions, including the illegal seizure of cars, sloppy record-keeping, unreliable balance statements, and ransom for personal property.
See League InfoSight for guidance and resources related to repossessions.
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