Congress to Boost Discriminatory Lenders in Industry with Penchant for Subprime Loans
The Senate approved of a proposal on Wednesday that could make it easier for auto-lenders to engage in racial discrimination. The chamber passed a joint resolution repealing a Consumer Financial Protection Bureau guidance on fair lending, in a 51-47 vote. The measure was supported by every Republican present and Sen. Joe Manchin (D-W. Va.). If passed by the House and signed into law by President Trump, the measure will scrap a directive released by the CFPB in 2013–one advising indirect auto-lenders how to comply with… Keep Reading