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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.
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."
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