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Financing Automotive Industry Disparate Impact

Ballard Spahr LLP

Republican members of House Financial Services Committee release new report on CFPB’s auto finance actions

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Republican members of the House Financial Services Committee recently released a report, prepared by the Republican Staff of the Committee, titled “Unsafe at Any Bureaucracy, Part III: The CFPB’s Vitiated Legal Case Against...more

McNees Wallace & Nurick LLC

Supreme Court Slams The Brakes On Challenge To Disparate Act

As of now, the Equal Credit Opportunity Act (ECOA) prohibits dealers from unintentional, or “disparate impact,” discrimination in setting dealer reserves in auto financing. This disparate impact can result from policies or...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Ballard Spahr LLP

The CFPB Stretches ECOA Past the Breaking Point with Auto Finance

Ballard Spahr LLP on

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

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