Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment.
Auto lenders would be well advised to keep up their guard as states — particularly blue ones — take steps of their own to crack down on what they see as abusive practices.
China's mobile payment lessons for U.S. bankers; Steven Mnuchin's wishful thinking on GSE reform; unpacking Mick Mulvaney's CFPB relocation musings; and more from this week's most-read stories.
Readers applaud acting Consumer Financial Protection Bureau Director Mick Mulvaney’s cost-cutting ideas, slam recent calls for postal banking, opine on banks limiting their business with firearms dealers and more.
The New Jersey mortgage lender and servicer won a huge victory in January when an appeals court threw out its fine levied by the consumer agency, but the court ruled against the claim that the agency's structure is unconstitutional.
