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Home » Store » Auto Lending » Senate Votes to Repeal CFPB Auto Lending Guidance

Senate Votes to Repeal CFPB Auto Lending Guidance

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Auto Lending

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The Senate voted 51-47 to block guidance issued by the CFPB five years ago that said indirect auto lenders can be subject to liability for discriminatory pricing markups. The Congressional Review Act resolution introduced by Sen. Jerry Moran, R-KS, late last month was passed with the help of one Democrat, Sen. Joe Manchin, D-WV. The vote generally went along party lines. The five-page bulletin, titled “Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act ...
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