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Tag Archives: auto lending discrimination
Gutting Consumer Finance Protection Bureau Hurts Auto Biz
As a congressman, Mick Mulvaney sponsored legislation to abolish the CFPB. A White House budget proposal cuts funding for the CFPB by ~$150 million – 25% of its total budget. Mulvaney has already frozen hiring and put a temporary hold on payments to victims of illegal banking practices. Three to 5 million American households turn to payday loan companies whose storefronts in working class neighborhoods outnumber McDonalds and Starbucks. Continue reading
DOJ Honda Consent Order Aims to Cut Auto Loan Abuses
The consent decree is a substantial, perhaps fatal, setback for dealer lobbying groups such as NADA and AIADA who have been fighting CFPB on non-discriminatory pricing. Continue reading
