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Consumer Financial Protection Bureau

CFPB Finds Servicemembers Pay More in Auto Lending Market

January 29, 2025

Summary

The CFPB has issued a report identifying that servicemembers face elevated costs and increased financial risks when obtaining auto loans. While the findings focus on the auto lending sector, the Bureau's analysis highlights potential fair lending and UDAAP risks that entities managing military consumer relationships must monitor.

The CFPB published a report showing that U.S. servicemembers pay higher costs and face greater financial risks when taking out credit to buy a car.

Source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-finds-servicemembers-pay-more-in-auto-lending-market/

Common questions

What does "CFPB Finds Servicemembers Pay More in Auto Lending Market" cover?
The CFPB has issued a report identifying that servicemembers face elevated costs and increased financial risks when obtaining auto loans. While the…
Which agency issued this update?
This update was issued by Consumer Financial Protection Bureau.
When was it published?
It was published on January 29, 2025.

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