Tag: consumer financial services; indirect auto lending; fair lending

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CFPB and DOJ Take Further Action Against Indirect Auto Lenders

CFPB and DOJ Take Further Action Against Indirect Auto Lenders

Following an investigation by the Consumer Financial Protection Bureau (“CFPB”) and the Department of Justice (“DOJ”), a captive indirect auto lender agreed on February 2, 2016, to change its pricing policies and compensation systems to limit dealer discretion and financial incentives to mark up interest rates for auto purchases.

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