TITLE

CFPB Auto Loan Push to Focus on Fair Lending

AUTHOR(S)
Horwitz, Jeff; Wack, Kevin
PUB. DATE
May 2013
SOURCE
American Banker;5/16/2013, Vol. 178 Issue 76, p21
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the U.S. Consumer Financial Protection Bureau's (CFPB's) decision not to ban markups in the auto finance market and the CFPB's strategy for seeking enforcement actions against car dealers whose markups can be considered racial discrimination in lending. The National Consumer Law Center's (NCLC's) class action strategy against auto finance companies that challenged indirect auto lending, meaning dealers underwrote car loans that were then sold to lenders, is noted.
ACCESSION #
87663358

 

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