Monday, September 30, 2013

They're ba-aack.........Lenders warn auto dealers about bias

Lenders warn auto dealers about bias | Crain's Detroit Business:
"Auto lenders are peppering dealerships with letters that say analyses of the dealerships' practices indicate a pattern of discrimination against minorities, women or the elderly in the loans they arrange for those customers.
....Many dealers say they think the letters were prompted by pressure on the lenders by the federal Consumer Financial Protection Bureau and see them as another attempt by the bureau to extend its oversight to dealers
The law that created the bureau in 2010 did not give it jurisdiction over auto dealers."

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