Commitment to Fair Lending Practices

Vehicle Finance Trades Urge CFPB to Fix Flawed Methodology in Fair Lending Enforcement

PRNewswire-USNewswire

A coalition representing many of the nation’s largest auto finance sources urged the Consumer Financial Protection Bureau (CFPB) today to address the bias and error found in the method it uses to determine whether unintentional disparate impact exists in an indirect auto lender’s portfolio. The Bureau has used – and continues to use – this methodology to support allegations of discrimination, despite its flaws.

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