Attorney Tom Oscherwitz warns the auto finance industry not to take its foot off the compliance pedal despite the Trump administration’s systematic dismantling of the Consumer Financial Protection Bureau and other federal regulatory bodies.

In an exclusive to DealerELITE, Oscherwitz, who serves as general counsel for Informed, lists six reasons finance and fintech leaders should continue to invest in compliance, including best business practices, private litigants and the ongoing work of state regulators such as New York Attorney General Letitia James.

“On one hand, the reduced scrutiny may increase lenders’ risk tolerance for certain investments and business practices,” he writes. “On the other hand, the lack of regulatory oversight could lead to increased risks and uncertainties, particularly for those operating in legal gray areas.”

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