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CFPB Nears Landmark Victory Against Three Large Auto Lenders

2015-07-01 00:33:33| Auto Dealers - Topix.net

Three of the nation's largest indirect auto lenders are poised to limit discretionary pricing for dealers after regulators accused them of allowing partners to mark up loans at higher rates to minorities, according to confidential documents. In proposed consent orders obtained by American Banker , the Consumer Financial Protection Bureau is planning to cite American Honda Finance Corp., Toyota Motor Credit Corp. and Nissan Motor Acceptance Corp. beginning as early as July for unintentional discrimination.

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