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Auto lending comments discuss threshold, carve outs
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Nonbank Financial
Monday, December 15, 2014
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Pursuant to its Dodd-Frank authority to supervise certain non-bank covered persons, the Consumer Financial Protection Bureau proposed a rule that would amend the definition of larger participants of certain consumer financial product and service markets by identifying a market for automobile financing and defining as large participants of this market certain non-bank covered persons that would be subject to the bureau’s supervisory authority. The comment session for this proposal closed on Dec. 8, read on to learn what some industry members had to say about the proposal.
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