Tag Archives: auto lending

Congress Passes Repeal of CFPB Guidance on Indirect Auto Lender Liability for Discriminatory Lending

The U.S. House of Representatives voted last Tuesday to reject a 2013 Consumer Financial Protection Bureau (CFPB) bulletin that provided guidance regarding liability for discrimination in indirect auto lending. The same measure passed the Senate three weeks earlier and is now expected to be signed by the president. The 2013 guidance was aimed at indirect … Continue Reading

CFPB Auto Lending Rule May Be on the Way Out

An Obama-era regulation intended to restrain discriminatory lending practices by automobile lenders appears to be on its way out. On April 18, under the Congressional Review Act (CRA), the Senate voted to repeal the Consumer Financial Protection Bureau’s (CFPB’s) 2013 guidance on dealer markups in the automobile lending process. The CFPB’s guidance was in response … Continue Reading
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