DOJ Targets Subprime Auto Lending
In collaboration with the CFPB, the Department of Justice is going after abuses in the subprime auto lending market. The DOJ has subpoenaed records dating from 2007 from General Motors concerning the securitization of its subprime auto loans. This follows on the heels of an $80 million settlement of a discrimination claim against Ally Bank in its subprime auto lending program. [8/6/14]