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CFPB to oversee large nonbank auto lenders
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Banking, Consumer Protection, Nonbank Financial
Monday, September 22, 2014
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The Consumer Financial Protection Bureau would oversee larger nonbank auto lenders under a proposed rule released for comment Sept. 17. In addition, the bureau unveiled a report detailing alleged auto lending discrimination at supervised banks and released a long-awaited whitepaper on the methodology it uses to evaluate auto lending for compliance with fair lending laws. The CFPB released the rulemaking proposal and the reports one day before it hosted a field hearing on auto lending in Indianapolis.
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