7 April 2020 – As expected, there is again a push for a nationwide moratorium on repossession activities; this time from the former Director of the CFPB Rich Cordray.
In the link below you will find his published white paper that specifically requests the CFPB to closely monitor efforts to repossess vehicles during the crisis and for an undetermined amount of time to include “its economic aftermath”.
Click Here to Read Cordray’s White Paper
We again are providing access to a letter you should send to your House and Senate representatives immediately. Your family members, your employees, their family members, your competitors, your fellow association members – everyone should reach out immediately in an effort to save your industry and prevent these actions from being taken.
Click Here to Download Letter to Send!
If you choose to send your own letter we encourage you to be professional, respectful and to keep in mind the bigger picture vs just the impact on your business. There is power in numbers and the more people we can show will be impacted, the better chance you have to stop it!
Below is a link to Rich Cordray’s most recent recommendations to the CFPB and members of Congress. Act now before it is too late!
White Paper: Immediate Actions For CFPB To Address COVID-19 Crisis
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