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Friday, May 31, 2013

House Financial Services Dems Query CFPB on Auto Loan Probe

Thirteen Democratic members of the House Financial Services Committee have asked the CFPB for information related to the agency’s scrutiny of indirect auto loans. The CFPB announced in March that lenders who offer auto loans through dealerships are responsible for unlawful, discriminatory pricing.

The Democrats asked for background information on the CFPB’s investigation of the alleged practices, information about the CFPB’s methodology and information about the CFPB’s “compliance expectations contained in recent guidance.”

The lawmakers requested a response by June 7.

Read the letter.


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