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Tag Archives: Consumers

CFPB limits calls, texts debt collectors send to consumers

The Consumer Financial Protection Bureau last week issued a final ruling on what constitutes fair debt collection behavior when communicating with consumers and outlined what is prohibited under that definition. While lenders aren’t third-party debt collectors, American Financial Services Association leaders voiced concerns this year that its membership could end …

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Consumers with negative equity struggle with digital deals, retailer finds

Before COVID-19 shelter-in-place orders necessitated digital sales and remote deliveries, Lithia Motors Inc. recognized the majority of its consumers struggled in digital environments. Consumers in positive equity positions with their trade-in vehicles and perfect credit scores are least likely to require assistance with the process, executives said. The Medford, Ore., …

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Consumers to lenders: Focus on security before the pitch

Satisfied with the ability to verify legitimate customers, lenders are investing in targeted marketing to entice more consumers. Those consumers, however, aren’t confident in the way lenders authenticate them online, and are less open to receiving those marketing messages as a result. Auto lenders, particularly those that offer multiple consumer …

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