The Industry's Leading Source For F&I, Sales And Technology

Top News

TAG SEARCH RESULT: Equal Credit Opportunity Act

1  -  5  of  5

November 14, 2013 - Industry News

Trade Group Commissions Study to Address CFPB's Fair Lending Concerns

The American Financial Services Association is commissioning a study to address the CFPB’s concerns for discrimination related to rate participation programs. It will also provide a cost-benefit analysis of alternative dealer compensation models.

Tags: AFSA Vehicle Finance Conference, CFPB, Equal Credit Opportunity Act

November 7, 2013 - Industry News

Town Delays Vote in Disparate Impact Case

A New Jersey housing bias case the Supreme Court agreed to hear could end in settlement. If an agreement isn’t reached, the high court could strike down the CFPB’s use of the disparate impact theory in its scrutiny of rate participation programs.

Tags: CFPB, Consumer Financial Protection Bureau, discrimination, disparate, Dodd-Frank Act, Equal Credit Opportunity Act, NADA, National Automobile Dealers Association

September 12, 2013 - Industry News

DOJ Settles Rate Discrimination Suit Against Calif. Dealer

The U.S. Department of Justice settled a lawsuit filed against the former Union Mitsubishi of Los Angeles. The suit claimed the dealer charged non-Asian customers higher interest rate markups.

Tags: Equal Credit Opportunity Act, Federal Reserve, Mitsubishi

March 21, 2013 - Industry News

CFPB: Lenders Are Responsible for Discriminatory Markups

In a bulletin issued today, the CFPB warned banking institutions that they could be on the hook for discriminatory markups imposed by dealers. The bureau’s notice also contains guidance on how finance sources should address fair lending risk.

Tags: Auto Lending, CFPB, discrimination, ECOA, Equal Credit Opportunity Act, Richard Cordray

October 1, 2009 - Industry News

AAS Launches Multistate Audit Program

Auto Advisory Services (AAS) launches today a new Multistate Audit Program by conducting its first compliance audits of automobile dealerships in New York and New Jersey.

Tags: compliance, Equal Credit Opportunity Act, Fair Credit Reporting Act, Gramm-Leach-Bliley

« Previous1Next »