Companies in the normal course of business must define their objectives; assess the risks to achieving those objectives; and design, implement, and monitor controls to address those risks. The professionals at CompVisory are uniquely qualified to help our clients do more than just address their risks. The CompVisory Team helps our clients rise above their risks by applying state of the art process improvement methodologies to our approach at providing audit, advisory, and consulting services.
Author: Dean
The View From Above
Your business landscape is complex. From the latest technological advances to the laws and regulations that impact your business, identifying, assessing, and managing risks can be complicated. You need a view from above to stay ahead. The professionals at CompVisory are thought leaders who have the experience and knowledge to help you understand the landscape and look to the horizon to customize a plan to suit your business needs. Let the CompVisory team help you get your view from above.
CFPB Sues Five Title Lenders for Failing to Disclose APR
The CFPB brought suit against five title lenders. The CFPB is alleging the lender companies failed to disclose their annual percentage rate in their online advertisements. Under the Truth in Lending Act the annual percentage rate (APR) must be disclosed in almost all consumer credit transactions.[1] The CFPB claims one company went so far as to advise the consumer to take their interest rate and multiply it by twelve, but failed to disclose that was the annual percentage rate.
[1] Consumer Financial Protection Bureau, CFPB Rules and Regulation TILA, Truth in Lending Act (2015) at 14, available at: http://files.consumerfinance.gov/f/201503_cfpb_truth-in-lending-act.pdf