Volume 25 - Number 6
March 17, 2014
Hensarling Threatens CFPB With Subpoena Over Auto Finance
Rep. Jeb Hensarling, R-TX, chairman of the House Financial Services Committee, recently threatened to subpoena the CFPB to supply information on the bureau’s indirect auto lending guidance and the methodology it uses in determining whether fair lending violations exist in that space. “By refusing to disclose this information, the bureau has deliberately deprived indirect auto lenders of any meaningful way to tailor their company’s lending practices and compliance systems so as to mitigate or eliminate the fair lending risk the bureau asserts to be present,” Hensarling said in a recent letter to CFPB Director Richard Cordray.
Subscribers to Inside the CFPB have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.
Subscriber Log In
If you are a current subscriber or already purchased this article, please login below.
This biweekly keeps mortgage executives on top of the onslaught of new legal and regulatory issues the industry has been seeing.
You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.
Please contact Customer Service if you need assistance: 1-800-570-5744