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Fifth Third Bank to Cap Dealer Markups

Fifth Third Bank to Cap Dealer Markups

The CFPB and DOJ announced two actions against Fifth Third Bank on Monday, one of which requires the finance source to pay $18 million in restitution to minority auto loan borrowers, as well as limit its dealer partners’ ability to markup interest rates on auto loans.

September 29, 2015

7 Financial Organizations Back Disparate Impact Amendment

7 Financial Organizations Back Disparate Impact Amendment

Seven financial organizations issued a letter to the U.S. House of Representatives on May 29 in support of an amendment to an appropriations bill that would limit Justice Department litigation relying on the disparate impact theory of discrimination.

June 9, 2014

CFPB is ‘Least Accountable’ Federal Agency, Lawmaker Charges
Evergreen Bank Moves to Flat Fees Due to Regulatory Pressures
Consumer Group Seeks to Eliminate Rate Markups in California

Consumer Group Seeks to Eliminate Rate Markups in California

A consumer advocacy group has filed a new ballot initiative with the California attorney general’s office. Part of the initiative aims to eliminate dealer markups, something California New Car Dealer Association President Brian Maas says would harm consumers.

December 3, 2013