An auto label financing is when a borrower surrenders their vehicles name as security for a little-buck financing

The consumer Monetary Coverage Bureau is actually taking point at the practice out of consumers investing the fresh term of its vehicle getting a little-dollar financing

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Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued a suit against USASF Servicing, an auto loan servicer, for consumer protection violations. The lawsuit is the most recent action from the CFPB addressing auto title lending, an industry whose practices have been a target of the agency for several years. Continue reading