The Auto Finance Roadmap

Regulators are scrutinizing practices surrounding the use of artificial intelligence and machine learning as well as aftermarket product sales, prompting auto lenders to review processes for themselves and their dealer partners.  

The Consumer Financial Protection Bureau this month published a letter to the U.S. Treasury making it clear that emerging AI-based technology isn’t exempt from long-standing consumer protection laws. Lenders must test and monitor the use of new technology and tools and ensure that they convey accurate information to consumers.  

At the same time, the CFPB’s funding is under scrutiny again, as new arguments question whether the bureau should receive money when the Federal Reserve isn’t profitable. Under the Dodd-Frank Act, “the combined earnings of the Federal Reserve System” are supposed to fund the CFPB.   

In powersports, inventory continues to be a challenge across every market segment, spawning elevated promotions to drive sales and operational changes to meet changing consumer demand.  

In this episode of the “Weekly Wrap,” Auto Finance News Editor Amanda Harris and Associate Editors Ashley Savage and Jameso Van Bramer discuss top trends in compliance, technology and powersports for the week ended Aug. 23. 

What is The Auto Finance Roadmap?

Auto Finance News is pleased to present The Roadmap, the podcast on best practices and trending topics in automotive lending and leasing. If you are in auto finance, this is your podcast.

Auto Finance News, published by Royal Media, is the flagship publication for the auto finance industry. Published since 1996, Auto Finance News is the nation’s leading source for news, insights and analysis on automotive lending and leasing.

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Auto Finance News produces the following leading industry events: the Auto Finance Innovation Summit, the Auto Finance Risk Summit, and the Auto Finance Summit, the industry’s premier event.