Tag Archives: cfpb

CFPB Scoffs at NADA FOIA Request on Auto Lending

Posted on 27 July 2015 by Ken Zino

The Consumer Financial Protection Bureau, aka CFPB, has rejected a Freedom of Information Act – FOIA – request by the National Automobile Dealers Association to release a memorandum that NADA alleges shows that the agency is seeking to exercise jurisdiction over auto dealers financing, which is prohibited under the Wall Street Reform and Consumer Protection Act of 2010, also called Dodd-Frank. Continue reading →

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DOJ Honda Consent Order Aims to Cut Auto Loan Abuses

Posted on 14 July 2015 by Ken Zino

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 →

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NADA FOIAs to CFPB on Targeting Auto Dealers

Posted on 14 July 2015 by Ken Zino

As always, it pays to shop since rates can vary drastically, and there have been cases of blatant discrimination where dealers charged varying amounts even though the victims have the same credit scores. (Read AutoInformed on Asian Auto Lending Discrimination in Los Angeles?) Continue reading →

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Ally Settles Auto Loan Discrimination Case

Posted on 20 December 2013 by Ken Zino

The agreement is the first joint fair lending enforcement action by the Justice Department and CFPB, which Republicans and their Wall Street and banking cronies continue to fiercely resist. However, in AutoInformed’s view this is not exactly the strongest test case possible. Continue reading →

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