Tag: bias

By on September 23, 2013

CFPB

According to regulatory filings by Toyota Motor Credit Corp., the giant automaker’s car financing arm, and American Honda Finance Corp., which fills a similar role for Honda, the United States Consumer Financial Protection Bureau and the Department of Justice are investigating major auto manufacturers for possible lending bias based on race, which would be a violation of the 1974 Equal Credit Opportunity Act.  According to Bloomberg, the agencies are looking into how loans that the automakers’ credit companies provide to auto dealers are priced. Bloomberg reports that as many as seven car companies have been asked for data that may be related to the borrowers’ races and interest rates charged. Both government agencies declined to comment on the matter. (Read More…)

By on October 10, 2012

 

This essay, which likens supporting a sports team supporting a sports team to being in an abusive relationship, struck a chord with me even though I care little about pro sports. But what about you?

(Read More…)

Recent Comments

  • Re: No Fixed Abode: Dealers Gone Wild!

    mankyman - Great story. These types of things do happen to young white dudes too though. It’s not just financial illiteracy that makes dealers happy. They also...
  • Re: No Fixed Abode: Dealers Gone Wild!

    bullnuke - Jeff Wyler…serving the credit challenged of Southwest and South Springfield for many years. Can’t afford our Toyotas? Take a 34-step walk over to...
  • Re: No Fixed Abode: Dealers Gone Wild!

    NoID - Well consider: Even if the dealer makes only one sale per working day, and captures that $700 doc fee: Figure 300 sales days in a year (52 weeks, minus Sundays...
  • Re: QOTD: What Should Replace the Chrysler 200?

    DeadWeight - No jobs will be lost (jobs will probably be added), as the all-new,upcoming 2017 RAM will be built at Sterling Heights Assembly Plant (which built...
  • Re: No Fixed Abode: Dealers Gone Wild!

    Compaq Deskpro - Dealer sold me the lifetime warranty with $100 deductible for $2500, which can be bought on the internet for $2185, doc fee was $1000, interest rate was...
  • Re: No Fixed Abode: Dealers Gone Wild!

    NoID - I’ve heard of dealers baking in penalties for independent financing into the base price (so they can magically find money to take out if they finance...
  • Re: QOTD: What Should Replace the Chrysler 200?

    Compaq Deskpro - You think sedans are going to decline as fast as wagons in the 80’s or 2 door SUV’s in the 90’s? If that’s the case,...
  • Re: General Motors CEO Mary Barra Chosen for Trump Advisory Panel

    agent534 - Free trade deals with countries having insanely low gdp per capita have the obvious effect, the people there will never be a market...
  • Re: No Fixed Abode: Dealers Gone Wild!

    incautious - This is why I usually buy from a private party. Downside, you only get remainder of the factory warranty( you can purchase an extended now a days if you...
  • Re: No Fixed Abode: Dealers Gone Wild!

    Joss - + A car’s a chance. It can get stolen or wrecked in an accident that’s not your fault. Any dealer add-ons like rustproofing or extended warranty...

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