CFPB Proposes Regulation of Non-bank Auto Finance Companies

The CFPB announced yesterday that it is proposing to oversee larger non-bank auto finance companies, which would be a first at the federal level. At the same time, the CFPB released a report detailing auto-lending discrimination at banks. "The report highlights that the Bureau’s supervisory actions against banks will result in about $56 million in redress for up to 190,000 consumers harmed by discriminatory practices." Read the full CFPB press release.

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