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fair lending

Supreme Court Upholds Disparate Impact

In a 5-4 vote, the Supreme Court held that disparate impact claims are cognizable under the Fair Housing Act, dashing the hopes of industry insiders who believed a ruling against the controversial legal theory would put a kibosh on the CFPB’s actions in auto lending.

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CFPB: Consumers Will Soon Receive Ally Payout

A CFPB official disclosed in a June 15 blog post that the administrator of the Ally settlement fund has begun contacting and mailing checks to borrowers who were affected by Ally’s alleged discriminatory auto lending policies.

Five Trade Groups Urge CFPB to Fix ‘Flaws’ in Fair Lending Enforcement

A coalition of five trade groups representing the nation’s largest auto finance sources urged the CFPB to review and respond publicly to a study that questions its methodology for measuring disparities in dealer reserve.

N.C. Dealerships Reach $225K Settlement in Predatory Loan Case

Two used-car dealerships and their owner reached a settlement this month with the Department of Justice and the state attorney general. The settlement resolves a lawsuit that alleged the dealerships charged African American buyers more for loans and repossessed vehicles without reasonable notice.

Zurich Helping Dealers Navigate CFPB's Fair Lending Review

Zurich North America worked with Hudson Cook on guidance to help auto dealers protect their dealerships from allegations of unfair lending practices.