CFPB Lashes Out at Auto Interrupt Devices

CFPB Fall Supervisory Highlights: The harm outweighed any countervailing benefits to consumers or competition.

On November 16th, the Consumer Financial Protection Bureau (CFPB) released their Fall Supervisory Highlights. Within its thirty-two pages of findings are, as usual, their observations and opinions on a number of loan servicing issues. This quarter, they take aim at auto interrupt devices, double charging collateral protection insurance and the usual issues of collections calls including allegations of deceptive representations during collection calls.

CFPB Lashes Out at Auto Interrupt Devices – Consumer Financial Protection Bureau – CFPB