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Dealers: U.S., Fifth Third settlement over lending bias to curb consumer savings

2015-10-01 08:20:11| Auto Dealers - Topix.net

National dealer associations are criticizing the government's settlement with Fifth Third Bancorp over alleged discriminatory auto lending practices, claiming dealers who work with the bank will now be limited in offering consumers competitive interest rates on auto loans. As part of the settlement, Fifth Third agreed to limit dealer reserve to 1.25 percent above its wholesale buy rate on an auto loan.

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