The CFPB issued its Final Rule today to supervise larger participant nonbank automotive finance companies, which is largely unchanged from their September 2014 proposal. The Final Rule retains the 10,000 transaction threshold, meaning that nonbank auto finance companies that make, acquire, or refinance 10,000 or more loans or leases in a year will come under CFPB supervision and enforcement and will be subject to the Consumer Protection Act’s prohibition on unfair, deceptive, or abusive acts or practices. The CFPB believes that it will have authority to supervise about 34 of the largest nonbank auto finance companies and their affiliated companies that engage in auto financing. The CFPB’s Final Rule is here, and the CFPB’s Supervisory Examination Manual is here.