Marijuana sales for recreational use became legal in California on Jan. 1, but another change in state law prohibits smoking or consuming the drug while driving or riding in a vehicle.
The CFPB’s inability to master the basic vocabulary of automotive finance does a disservice to the consumers whose interests it is charged with protecting.
Under the new law, used-car dealers who sold fewer than 50 cars in the previous calendar year will be required to purchase a $20,000 surety bond. Dealers who sold more than 50 cars will be required to purchase a $100,000 bond. Additionally, new dealer license applicants will need to post the $20,000 surety bond.
Last week, the CFPB proposed to implement an amendment to the Gramm-Leach-Biley Act (GLBA) that will grant certain financial institutions exemption from sending annual privacy notices to customers.
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