SAN DIEGO -

As the SubPrime Forum winds down and the Re3 Conference ramps up today, a similar subject will fill the presentations of both Used Car Week events — the Consumer Financial Protection Bureau.

Discussions about the CFPB will begin in earnest when a presentation featuring Jack Tracey, the executive director of the NAF Association and Alicia Tortarolo, a partner with Hudson Cook will discuss the latest developments associated with the bureau.

Dealer associations, legal service providers and industry organizations have sought clarity as to how the CFPB plans to determine if discrimination is taking place within indirect auto lending.

Just before Halloween, a bipartisan group of 22 Senators — 11 Republicans and 11 Democrats — urged the CFPB to be more transparent about policy guidance it issued for indirect auto lending, which some suggest will curtail a pro-competitive financing service and may result in increased costs for consumers.

Then in response last week, Patrice Ficklin reiterated the CFPB’s position. Ficklin is the bureau’s assistant director for fair lending.

“The auto bulletin indicated that we are engaged in the same type of fair lending analysis and scrutiny that our fellow regulators and the Department of Justice have engaged in for many years,” Ficklin said.

“In addition, responsible auto lenders have regularly engaged in similar analyses to monitor their own lending practices for compliance with the law,” she continued.

Not only will discussion about CFPB compliance when originating vehicle financing be on the docket today, but the topic will also reappear several times throughout the Re3 Conference when contract terms are not met and repossession and recovery measures become necessary.

Moderator Mike Goins of TD Auto Finance will lead a Re3 Conference segment titled, “The Re3 Report: State of the Auto Finance Industry.” Goins — the senior vice president and head of U.S. deficiency recovery for TD Auto Finance — will be joined by:

—Jeff Anderson, vice president of national auto sales at van Wagenen Financial Services
—Eric Hurst, vice president of lending and risk at NextGear Capital
—Brian Smith, assistant vice president at Santander Consumer USA
—Mike Thurman, partner at Loeb & Loeb

More breakout sessions and workshops fill the remainder of the Re3 Conference agenda, which can be found here.

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