In response to the CFPB’s new repossession “Best Practices”

CFPB issued Bulletin 2022-04 Mitigating Harm from Repossession of Automobiles

To The Repossession Industry:

Recently the CFPB issued Bulletin 2022-04: Mitigating Harm from Repossession of Automobiles. In response to this bulletin, some lenders are instituting what they call best practices to appease the CFPB when they are audited.  Many of the “best practices” that have been implemented places the burden of responsibility on the Repossessor.

Read More!

In response to the CFPB’s new repossession “Best Practices” – CFPB – Repossession