Guest Commentary

Guest commentary: Compliance risks in indirect auto lending

June 28, 2023 02:45 PM

Automotive lending has changed dramatically in the last decade, with financial institutions relying more heavily on indirect lenders to collect, manage and report data in accordance with regulatory requirements. However, with heightened Federal Deposit Insurance Corp. and Consumer Financial Protection Bureau oversight, banks face significant compliance risks; indirect auto lending is a growing market, and banks must provide greater oversight and establish effective controls to ensure quality data.

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