Christopher J. Willis

Christopher J. Willis

Ballard Spahr LLP

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How the CFPB’s stance on ECOA in auto finance will raise consumer prices

Ever since the CFPB’s release of its bulletin relating to disparate impact analysis of dealer rate participation last week, the press and consumer advocacy groups have been buzzing about the Bureau’s stance and its potential...more

3/28/2013 - Automotive Industry Car Dealerships CFPB Dealer Rate Participation Disparate Impact ECOA Financing

CFPB Issues Guidance on Indirect Auto Lending ECOA Compliance

The Consumer Financial Protection Bureau has issued guidance on fair lending compliance for indirect auto lenders. The guidance targets the practice of “dealer markups.” This practice involves an auto dealer charging the...more

3/22/2013 - Automotive Industry Car Dealerships CFPB Compliance ECOA Fair Lending Financing

The CFPB previews its coming auto finance fair lending enforcement actions

Earlier today, the CFPB released its guidance bulletin with respect to automobile indirect finance fair lending issues. The bulletin’s intent is unmistakably clear from the accompanying press release’s tag line: “CONSUMER...more

3/22/2013 - Automotive Industry Car Dealerships CFPB ECOA Fair Lending Financing

The CFPB Stretches ECOA Past the Breaking Point with Auto Finance

In a story released last night, Carter Dougherty at Bloomberg reports that the CFPB has warned “at least four banks” that it may take enforcement action against them under ECOA, alleging that a “policy” of “allowing” dealers...more

2/22/2013 - Automotive Industry CFPB Discrimination Disparate Impact ECOA Enforcement Financial Institution Liability Financing Retail Installment Sales Contracts

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