Effective date of CFPB rule assuming regulation of large auto finance and leasing companies

The Consumer Financial Protection Bureau has published [80 FR 37495] its previously announced final rule that will allow the agency to supervise larger nonbank auto finance companies for the first time. The final rule also defines additional automobile leasing activities for coverage by certain consumer protections of the Dodd-Frank Act. The rule will be effective sixty days hence, on August 31, 2015.