July 28, 2015
Auto Loans
Comment Letter
H.R. 1737 would frustrate efforts to crack down on discriminatory auto lending practices. The bill places unnecessary restrictions on CFPB oversight of auto lending, including interest rate markups that cost consumers tens of billions of dollars and have been found to violate fair lending practices through a differential impact on minority purchasers of automobiles. The restrictions in this bill do not exist for any other financial practice.
Download the comment letter above and download a supplemental factsheet on discrimination in auto lending.