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News
December 10, 2015

In the News Today – December 10, 2015

CFPB Auto-Loan Regulations Under Fire: A “largely fact-free prosecutorial method” is how the Wall Street Journal editorial board labeled the Consumer Financial Protection Bureau’s method for gathering information for auto-loan regulation. “The bureau has been guessing the race and ethnicity of car-loan borrowers based on their last names and addresses—and then suing banks whenever it looks like the people the government guesses are white seem to be getting a better deal than the people it guesses are minorities.” Rep. David Scott (D-GA) called the CFPB’s method “shamefully flawed.” (Wall Street Journal)

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