Home › CFPB Ruling Could Adversely Affect Dealers and Consumers
 

Keywords :   


CFPB Ruling Could Adversely Affect Dealers and Consumers

2013-03-26 21:21:43| AutomotiveDigest.com - Automotive Industry News

Auto dealership advocates are warning that costs will rise for borrowers if the Consumer Financial Protection Bureau presses banks to curtail auto loan markups determined by dealers. The warning followed the CFPB's bulletin this week that said banks are responsible for discrimination if their partner dealers mark up the interest rates on loans for minority borrowers or engage in other fair lending abuses. The agency is encouraging lenders to adopt a flat-fee model for dealer compensation. But dealer industry representatives said doing so would hurt competition and ultimately boost car prices. Dealer industry representatives, concerned about the new CFPB ruling, encouraging lenders to adopt a flat-fee model for dealer compensation, said doing so would hurt competition and ultimately boost car prices. [Read more]The Article CFPB Ruling Could Adversely Affect Dealers and Consumers appeared first on Automotive Digest.

Tags: affect consumers dealers ruling

Category:Automotive

Latest from this category

All news
»
02.10Hurricane Kirk Graphics
02.10Hurricane Kirk Forecast Discussion Number 10
02.10Hurricane Kirk Wind Speed Probabilities Number 10
02.10Hurricane Kirk Public Advisory Number 10
02.10Summary for Hurricane Kirk (AT2/AL122024)
02.10Tropical Depression Eleven-E Forecast Discussion Number 2
02.10Tropical Depression Eleven-E Forecast Advisory Number 2
02.10Tropical Depression Eleven-E Public Advisory Number 2
More »