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CFPB to keep Auto Lenders Responsible For Prohibited Discriminatory Markup

Bureau Provides Help With Fair Lending Practices to Indirect Auto Lenders

May 21, 2018, the President signed a joint resolution passed away by Congress disapproving the Bulletin titled “Indirect Auto Lending and Compliance with all the Equal Credit Opportunity Act” (Bulletin), which had provided guidance in regards to the Equal Credit chance Act (ECOA) as well as its implementing regulation, Regulation B. In keeping with the joint resolution, the Bulletin doesn’t have force or effect. The ECOA and Regulation B are unchanged and stay static in force and effect. See more details on complying because of the ECOA and Regulation B. The materials relating to the Bulletin regarding the Bureau’s website are for guide only.

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