CFPB Amends Wise Order for Remittance Practices
CFPB amended its consent order with Wise for remittance practices, signaling stricter enforcement on fee and exchange rate disclosures. While not directly targeting auto dealers, it indicates heightened scrutiny on transparent pricing, which affects F&I advertising and add-on product disclosures.
Aforeworn detected this change in the Auto Dealer F&I Compliance space on July 7, 2026 and published this briefing so affected operators are forewarned rather than caught off guard. It is rated Medium urgency. Franchise dealers, independent used-car dealers, BHPH, F&I managers should confirm how it applies to their specific situation before acting. There is a time constraint attached: Within 30 days to mitigate risk of enforcement action.. Acting after that point can mean penalties, a lapsed licence, or lost eligibility — exactly the kind of surprise Aforeworn exists to prevent. Aforeworn monitors Auto Dealer F&I Compliance continuously and turns every detected change into a plain-English briefing like this one, so you always know first. Forewarned is forearmed.
What changed
CFPB amended Wise order, reinforcing requirement to clearly disclose all fees, exchange rates, and costs in advertising and transactions.
Who it affects
Franchise dealers, independent used-car dealers, BHPH, F&I managers
What you must do
Review and update all F&I advertising and disclosure materials to ensure fees, rates, and add-on product costs are clearly and accurately presented.
Deadline
Within 30 days to mitigate risk of enforcement action.
Source: https://www.consumerfinance.gov/about-us/newsroom/cfpb-amends-wise-order-for-remittance-practices/
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