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Overcharging for add-on products on auto loans

Posted in Add-on products, Auto loans, Policy and compliance, and Supervision

This content was originally published by the Consumer Financial Protection Bureau. We selectively syndicate content from them when we feel it may help you to better understand how to manage your finances.

The Division of Supervision, Enforcement, and Fair Lending is taking action against sloppy servicing practices that cause consumer harm, such as unfair practices that may occur when add-on products terminate. We will continue to scrutinize servicer practices to make sure that borrowers aren’t overcharged when their loans end early.

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