Arthur Baines and Dr. Marsha Courchane review the Consumer Financial Protection Bureau’s bulletin on fair lending compliance in the indirect auto arena and analyze how it may impact dealer discretion and the prices faced by car-buying consumers. They contrast the difference between franchised car dealers and mortgage brokers.
Fair lending: Considerations when searching for less discriminatory alternatives
The Consumer Financial Protection Bureau increasingly expects institutions to explore less discriminatory alternatives (LDAs) as part of their disparate impact...