By on January 27, 2016

 

That happy couple at the car dealership, back by popular demand...

That happy couple at the car dealership, back by popular demand.

Since we last reported on the Consumer Financial Protection Bureau (CFPB) and its controversial crusade to uncover racial discrimination by car dealers on interest rate markup on automobile loans, the agency has ordered over $100 million in fines and settlements against banks that some have deemed extortion. This has infuriated lenders and car dealers, and has frustrated lawmakers on both sides of the aisle.

The tale continued last week as the House Committee on Financial Services revealed that their work on this case now includes trying to get the CFPB and Department of Justice to agree on that age-old problem on how to get white car buyers to admit that they are actually white.

Let us review this investigation, which recently prompted the House committee to publish a report about the CFPB probe, titled “Unsafe at Any Bureaucracy: CFPB Junk Science and Indirect Auto Lending.

(Read More…)

Recent Comments

  • MKizzy: The Pallisade looks more pricey than the Telluride, but the Kia’s cleaner lines are easier on the eyes,...
  • indi500fan: Third world guy ain’t ridin’ with no V6 power. Bid specs mandate V8 only.
  • Hummer: Absolutely, like the H3T the base Gladiator is a steal for the hardware you get. And I’m not knocking the...
  • Hummer: Too bad this isn’t on the newer trucks, help cull the herd early.
  • dwford: Apparently the target market for full size crossovers is a third world dictator. Did the designers get...

New Car Research

Get a Free Dealer Quote

Staff

  • Contributors

  • Timothy Cain, Canada
  • Matthew Guy, Canada
  • Ronnie Schreiber, United States
  • Bozi Tatarevic, United States
  • Chris Tonn, United States
  • Corey Lewis, United States
  • Mark Baruth, United States
  • Moderators

  • Adam Tonge, United States
  • Corey Lewis, United States