CFPB Criticized For Failure to Provide Information Related to Indirect Auto Lending Activities
By: Melanie Brody, Tori K. Shinohara
On Friday, the Chairman of the House Financial Services Committee wrote a letter to Director Cordray chastising the CFPB for its continued refusal to provide meaningful responses to Congressional requests for information about the Bureau’s supervision and enforcement activities related to indirect auto lending. In the letter, Chairman Hensarling cites five instances of Congressional requests for information related to the CFPB’s indirect auto activities over the past year that have been not been satisfied. He criticizes the Bureau’s “pattern of obfuscation” related to Congressional requests for information and contends that the CFPB has created “unnecessary uncertainty” within the auto lending market. Read More