In a speech today on next steps in financial regulation, Sen. Elizabeth Warren (D-Mass.) said that the Consumer Financial Protection Bureau should assume oversight of auto dealers, which were left out of the Dodd-Frank Act. “The market is now thick with loose underwriting standards, predatory and discriminatory lending practices, and increasing repossessions,” Warren said. “Auto dealers got a specific exemption from CFPB oversight, and it is no coincidence that auto loans are now the most troubled consumer financial product.”
Fed: Noncash payments continue to grow, credit cards more frequently used
The number of noncash payments more than tripled since 2000, with credit cards now outpacing debit cards in growth in use, according to initial findings from the Federal Reserve's triennial payments study.








