WASHINGTON—The CFPB has published the 19th edition of its supervisory activities, reflecting activities conducted between December 2018 and March 2019. The data provide insights into auto loan origination, credit card account management, debt collection, furnishing, and mortgage origination.
Among the comments made by the CFPB regarding auto loan origination, the Bureau noted it continues to examine these activities, including "assessing whether originators have engaged in any unfair, deceptive, or abusive acts or practices prohibited by the Consumer Financial Protection Act of 2010."
Earlier this year, the Bureau held a symposium focused on clarifying "abusive" under unfair, deceptive or abusive acts or practices (UDAAP).
Additional Details
UDAAP violations related to threats of repossession or foreclosure in credit card collections and marketing regarding secured credit card accounts are further detailed in the supervisory report, noted NAFCU in its analysis.
The report also provides a summary of the Bureau's recent rules and guidance – including the small entity compliance guide, memorandum of understanding with the FTC, and amendments to the annual privacy notice requirement under the Gramm-Leach-Bliley Act.