According to F&I and Showroom, DOJ is taking a closer look at auto finance.
ARLINGTON, Va. — The Consumer Financial Protection Bureau (CFPB) isn’t the only enforcement agency shining the spotlight on auto finance. The U.S. Department of Justice is also taking aim at disparate impact discrimination claims related to retail installment transactions.
Speaking earlier this month during a panel discussion on fair lending at George Mason University of Law, Deputy John M. Seward told attendees that the Department of Justice has begun receiving a higher frequency of reported violations related to auto loans. He also said the DOJ is now working closer with the CFPB to investigate fair lending.