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CFPB Spurns Request for Internal Auto Loan Memo

2015-07-28 00:01:12| Auto Dealers - Topix.net

The Consumer Financial Protection Bureau denied an auto dealer trade group's request for a document detailing limits imposed by Honda's financing arm on dealer price discretion. From Beijing to Paris to Dublin, peer-to-peer lending is blossoming.

Tags: auto request internal loan

 

AutoNation CEO endorses CFPB, Honda Finance pact

2015-07-20 10:45:47| Auto Dealers - Topix.net

"This is a very enlightened solution," says AutoNation's Mike Jackson of American Honda Finance's agreement with the CFPB." AutoNation Inc. CEO Mike Jackson has endorsed the settlement between the Consumer Financial Protection Bureau and American Honda Finance Corp. for preventing discrimination in auto finance, calling the agreement a "workable template" that other retailers and lenders should follow.

Tags: finance ceo honda pact

 
 

When CFPB, dealers meet, sparks fly

2015-07-20 06:35:34| Auto Dealers - Topix.net

When a dealer at the minority dealers' conference said: "All dealers do not discriminate," the Justice Department's Steve Rosenbaum responded, "We agree." CFPB's Patrice Ficklin said, "I hope not."

Tags: meet fly dealers sparks

 

CFPB Brings First ECOA Disparate Impact Action Post-Inclusive Communities

2015-07-17 03:02:19| Auto Dealers - Topix.net

Just over 18 months after bringing a disparate impact-based ECOA case against Ally Financial for discriminatory auto loan pricing, the CFPB has struck again - this time taking action against American Honda Finance Corporation . Like Ally, Honda stands accused of discriminatory auto loan pricing stemming from the company's discretionary pricing and dealer compensation practices, i.e., allowing auto dealers to mark up its risk-based interest rate.

Tags: action impact communities brings

 

CFPB, Justice talk straight to minority dealers

2015-07-15 20:39:30| Auto Dealers - Topix.net

Patrice Ficklin, left, the CFPB's assistant director for fair lending and equal opportunity, and Steven Rosenbaum, chief of the housing and civil enforcement section of the Department of Justice's Civil Rights Division, under fire from some dealers last week in Miami. Photo credit: TOM WOROBEC MIAMI BEACH, Fla.

Tags: talk straight justice dealers

 

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