Read Steven Lane's piece in The Hill entitled Trump signs repeal of auto-loan policy that targeted racial bias.
Acting CFPB director Mick Mulvaney is pleased. In a press release issued today, Mulvaney "thanks the President and the Congress" for nixing the CFPB's policy because the agency had acted "outside of federal statutes." "As an executive agency," Mulvaney says, "we are bound to enforce the law as written, not as we may wish it to be" (emphasis added).
So, given that Mulvaney appears to support the substance of the auto-loan policy, do you think he will now urge Congress and the President to make it a reality?
For our earlier coverage of the CFPB's auto-lending guidance, go here, here, and here.
