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spanone

(135,635 posts)
Wed Apr 18, 2018, 11:02 PM Apr 2018

Senate votes to kill a policy warning auto lenders about discrimination against minority borrowers


WASHINGTON — The Senate on Wednesday voted to kill a five-year old Obama administration policy warning auto lenders not to discriminate against minority borrowers.

The legislation, which passed 51 to 47 largely along party lines, is the latest Republican rebuke of the Consumer Financial Protection Bureau’s history of aggressive tactics. Senator Joe Manchin of West Virginia, was the only Democrat to vote in favor of the measure.

The auto industry complained for years about the CFPB guidance, which they said was unfair.

‘‘The CFPB wrongly used its overreaching, indirect auto-lending guidance as an enforcement weapon, proceeding down the path of an aggressive enforcement action in search of ‘market-tipping settlements,’ ’’ said Senator Jerry Moran, the Kansas Republican who sponsored the legislation.


https://www.bostonglobe.com/business/2018/04/18/senate-votes-kill-policy-warning-auto-lenders-about-discrimination-against-minority-borrowers/JzTURRe2CnSZHN39vs2BxL/story.html
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Senate votes to kill a policy warning auto lenders about discrimination against minority borrowers (Original Post) spanone Apr 2018 OP
Waiting for some folks to jump in to defend the Republicans on this EffieBlack Apr 2018 #1
 

EffieBlack

(14,249 posts)
1. Waiting for some folks to jump in to defend the Republicans on this
Wed Apr 18, 2018, 11:30 PM
Apr 2018

Since there seems to be a sense among some here that racism is just in our imaginations. Cops are beyond reproach and we must stop picking on them - wondering if the same thing applies to auto dealers.

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