AFSA aims to provide CFPB with thorough dealer participation analysis via new study, according to Subprime Auto Finance News.
In light of concerns expressed by the Consumer Financial Protection Bureau about the “significant risk” dealer participation poses on “pricing disparities on the basis of race, national origin, and potentially other prohibited bases,” the American Financial Services Association is ramping up its own investigation.
AFSA is commissioning a study aimed at assessing the effectiveness of the present model and evaluating the costs and benefits of alternative approaches. Researchers currently are being vetted.
AFSA remains opposed to discrimination of any kind, a stance reiterated by association executive vice president Bill Himpler during his allotted time to speak when the CFPB conducted an auto finance forum last week.
Himpler’s remarks repeated how AFSA is committed to optimizing consumers’ access to affordable credit and is dedicated to ensuring credit markets function competitively and efficiently for all consumers, dealers and lenders.