CFPB Looks at Supervision Process
The Consumer Financial Protection Bureau issued a request for information (RFI) about the bureau’s supervision processes. The bureau is seeking comments and information from interested parties to assist in assessing the overall efficiency and effectiveness of its supervision program and whether any changes to the program would be appropriate. This is the fourth in a series of RFIs announced as part of Acting Director Mick Mulvaney’s call for evidence to ensure the bureau is fulfilling its proper and appropriate functions to best protect consumers. This RFI will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities. The next RFI in the series will address the bureau’s external engagement processes, and will be issued next week.
Ford, Mazda Tell Owners to Park Trucks
Ford and Mazda announced they are expanding their ‘do not drive warning’ to include additional model year 2006 Ford Ranger and Mazda B-Series trucks with defective Takata air bags based on new testing.These vehicles have defective Takata air bags that are an immediate risk to safety. Affected owners are urged not to drive these vehicles and to contact Ford and Mazda immediately to schedule a free repair. Ford and Mazda have replacement air bags available now and will tow vehicles to a local dealership for repair, and provide loaner vehicles – all free of charge.
American Honda Motor Co. is recalling 806,936 2011-17 Honda Odyssey…
Toyota Motor Engineering & Manufacturing is recalling 39,915 2012-15 Prius…
Mitsubishi Motors North America Inc. (MMNA) is recalling 83,555 2014-2018…
BMW of North America LLC is recalling 32,000 2014-18 BMW…
CFPB Looks at Enforcement Process
The Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) about the bureau’s enforcement processes. The bureau is seeking information to help assess the overall efficiency and effectiveness of its processes related to the enforcement of federal consumer financial law. This is the third in a series of RFIs announced as part of Acting Director Mick Mulvaney’s call for evidence to ensure the bureau is fulfilling its proper and appropriate functions to best protect consumers. This RFI will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities.
Vogue recalls Tires for Missing IDs
Vogue Tyre & Rubber Co. is recalling 1,203 Signature V tires, sizes 245/40R20, 235/45R17, 225/50R17, 225/45R17, 235/55R17, 245/45R17 and 235/65R18, and Signature V SCT tires, sizes 285/45R22, 275/55R20. These tires have incomplete Tire Identification number (TIN) codes on the intended outboard sidewalls in that they are missing date codes. As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 139, "New Pneumatic Radial Tires for Light Vehicles."Vogue will notify owners, and dealers will replace the affected tires, free of charge. The recall is expected to begin Feb. 12.