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

  • ToolGuy: Why does the government hate progress?
  • Lie2me: How about that fancy lady on her hi-tech car phone? Probably costing a dollar a minute to chat
  • jack4x: Small world, I used to work for UGN and have met Peter Anthony. Let me just say, from the bottom of my heart,...
  • Lie2me: Meh, Elon Musk manipulates Tesla stock prices with just a tweet, nothing ever happens to him
  • Argistat: “Impressive size and passenger space without mass or bulk” in the ad copy print (the one with...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Jo Borras
  • Mark Baruth
  • Ronnie Schreiber