CFA Encourages the CFPB to Gather More Data about Auto Lending Practices
Auto loans are the third-largest consumer credit market in the U.S., second only to student loans and mortgages. Yet, unlike these two other sectors, the public has almost no access to data about auto lending patterns and risk. CFA partnered with consumer advocates to identify the “data gaps” that exist pertaining to various aspects of auto lending, and how the CFPB should gather and disseminate this data to enhance the public’s knowledge and ultimately make the marketplace stronger and more competitive.
