We also want to make sure that when a consumer goes in to get a loan to buy a car that they are not unwittingly being forced to pay more based on assumptions made about their racial or ethnic background.
Cordray highlights the need for fairness in auto lending practices.
Share
More from Richard Cordray
the irresponsible lending that precipitated the crisis and blew up the mortgage market and blew up the economy pushed most lending now to GSEs and eliminated, destroyed the secondary financing market, which has not yet recovered.
Disparate impact has been the law of the land for decades. It has been reaffirmed by the Supreme Court.
On top of the historic debt that we have pushed upon tens of millions of Americans, they face a financial marketplace that is littered with predatory players.
The changes that are being made here that the Secretary announced...are going to result in the numbers of people receiving public service loan forgiveness...into the tens of thousands.