An independent federal agency established by the Dodd-Frank Act to enforce consumer protection regulations and issue new regulations prohibiting unfair, deceptive, or abusive acts and practices, among other things. Auto dealers that sell, lease and also service vehicles and do not obtain customer financing from Affiliates are generally not subject to the CFPB’s direct regulatory authority. Buy-here-pay-here and many independent dealers will be subject to direct CFPB regulation. However all auto dealers will be required to comply with substantive consumer protection regulations issued by the CFPB. On July 21, 2011, rulemaking authority under approximately 18 federal consumer credit laws (including TILA, ECOA, FCRA and FDCPA) were transferred to the CFPB. The CFPB will have authority to amend existing regulations under these laws and publish new regulations concerning consumer financial services.