Key takeaways:

• The CFPB proposed its auto finance larger participant rule, which will bring an estimated 91% of the non-bank auto finance market — 38 firms — under the Bureau’s supervisory authority.
• The proposed larger participant rule would define the market for auto finance as auto loans, leases, refinancings and the purchases or acquisitions of credit obligations (including refinancings) and leases. A non-bank auto lender will qualify as a larger participant if it has at least 10,000 in aggregate annual originations.
• The Bureau also published a special Supervisory Highlights Report discussing its fair lending supervisory activities in indirect auto lending and a white paper on its proxy methodology used to identify consumer demographic information to analyze potential disparities in dealer participation.