Consumer Bureau Said to Warn Banks of Auto Lending Suits
February 21, 2013
The U.S. Consumer Financial Protection Bureau has told at least four banks that it may sue them over vehicle loans and interest-rate markups by auto dealers that appear discriminatory, according to insiders. At least four banks received letters from the CFPB last week giving them 15 days to provide an explanation. The letters indicate the bureau believes the banks may have violated the Equal Credit Opportunity Act, a 1974 law that bars discrimination in lending.
External web links may expire.
Return to Headlines
Abstract News © Copyright 2008-2013 INFORMATION, INC.