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Tag: cfpb
Has high court raised bar for CFPB in auto bias cases?
2015-07-09 04:09:42| Auto Dealers - Topix.net
From the outside, the Supreme Court's ruling last month upholding disparate impact claims in housing discrimination lawsuits may look like a headache for auto dealers, but a provision in the decision could give the Consumer Financial Protection Bureau a hurdle that could work in dealers' favor. The disparate impact theory says that a policy can be considered discriminatory if it has a disproportionately adverse effect on minorities, even if no discrimination was intended.
CFPB Nears Landmark Victory Against Three Large Auto Lenders
2015-07-01 00:33:33| Auto Dealers - Topix.net
Three of the nation's largest indirect auto lenders are poised to limit discretionary pricing for dealers after regulators accused them of allowing partners to mark up loans at higher rates to minorities, according to confidential documents. In proposed consent orders obtained by American Banker , the Consumer Financial Protection Bureau is planning to cite American Honda Finance Corp., Toyota Motor Credit Corp. and Nissan Motor Acceptance Corp. beginning as early as July for unintentional discrimination.
Tags: large
auto
victory
lenders
CFPB director to real estate industry: take August TILA-RESPA rule effective date seriously
2015-03-09 23:27:29| Real Estate - Topix.net
Consumer Financial Protection Bureau director Richard Cordray is showing little sympathy for companies that may be behind the curve in preparing for what many have called a sea change in the way mortgage transactions are conducted - even while legislators and industry trade groups are urging the CFPB to exercise restraint in its enforcement of the Aug. 1, 2015, effective date of the TILA-RESPA Integrated Disclosure rule.
Bloomberg: CFPB wrong to stop racist auto dealers
2015-02-26 21:56:14| Auto Dealers - Topix.net
Here's an interesting thought of the day: The Consumer Financial Protection Bureau is wrong to try to stop racist auto dealers from giving terrible car loans to minorities. Indeed, according to Ramesh Ponnuru, a Bloomberg View columnist, there are doubts that racial discrimination even exists in auto lending in the first place.
NADA Supports Bipartisan Effort to Reform CFPB Auto Lending Guidance
2014-09-14 12:23:20| Auto Dealers - Topix.net
The new bill, "Reforming CFPB Indirect Auto Financing Guidance Act," would allow the agency to reissue its guidance under a more transparent process. The measure is sponsored by Reps.
Tags: auto
effort
supports
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