Auto Lending Discrimination: CFPB to Issue White Paper
Last year, the CFPB warned banks that dealer finance charge participation may violate Fair Lending rules, even if the practices are neutral on their face. The industry pressed for clarification from the CFPB on how it determines what would constitute discrimination. In testimony before the House yesterday, CFPB Director Cordray says that the bureau will be issuing a white paper this summer regarding the use of proxy methodology it would use. [6/19/14]
