The Consumer Financial Protection Bureau (CFPB) has released a "Data Spotlight" that focuses on an analysis of negative equity data from a group of auto finance entities. This report is the first in a series using data collected from nine market monitoring orders issued to auto lenders as part of a pilot data project announced by the Bureau in February 2023.
While reviewing the initial report, the American Financial Services Association (AFSA) acknowledged the Bureau's clear and straightforward presentation of the data. However, AFSA continues to disagree with the CFPB regarding the availability of auto financing data. The Bureau maintains that "detailed information about the market is limited or non-existent," while AFSA cites numerous sources for such market data.