Consumer Financial Protection Bureau Archives

Toyota Hit With $60 Million Penalty For Scamming Buyers Into Pricy Product Bundles

Toyota Hit With Million Penalty For Scamming Buyers Into Pricy Product Bundles

Photo: Brandon Bell (Getty Images) Toyota’s in-house financing unit is being hit with $60 million in fines and restitution in an effort to settle charges from the Consumer Financial Protection …

Why Americans are struggling with car loans

by Horatio Thompson

There are more than 275 million cars on the road in the U.S. But in recent years, car ownership has gotten more expensive than ever — due to the Covid-19 …

Credit Acceptance Suit Suspended Over Possible Funding Issue

by Horatio Thompson

Image: mangostock (Shutterstock) The increase in car prices has come with more predatory loan practices, since so many people are trying to buy cars they can’t afford. Credit Acceptance has …