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Equal Credit Opportunity Act › Automotive Industry › Compliance

Ballard Spahr LLP

Auto Finance Company Agrees to Change Dealer Compensation Policy to Settle CFPB and DOJ Fair Lending Claims

Ballard Spahr LLP on

To resolve charges by the Consumer Federal Protection Bureau (CFPB) and the Department of Justice (DOJ) that it engaged in unlawful discrimination in violation of the Equal Credit Opportunity Act (ECOA), American Honda...more

Morrison & Foerster LLP

CFPB Fair Lending Guidance for Indirect Auto Lenders—It’s Not Just About Cars

Morrison & Foerster LLP on

Several weeks ago, the Consumer Financial Protection Bureau (“CFPB”) issued a fair lending guidance bulletin (“Bulletin”) directed at financial institutions that make indirect automobile loans. While the Bulletin thus far has...more

Ballard Spahr LLP

CFPB Issues Guidance on Indirect Auto Lending ECOA Compliance

Ballard Spahr LLP on

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

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