NACA Joins Comment to CFPB on ANPRM to Define Larger Non-Bank Participants in Auto Financing Market

NACA joined consumer groups on a comment submitted to the Consumer Financial Protection Bureau in response to an Advanced Notice of Proposed Rulemaking on whether the CFPB should change its test to determine larger non-bank participants in the auto finance market. The comment opposed changing the definition of larger participant in any way that would cause fewer auto finance companies to be supervised by the CFPB.