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Regulation by enforcement, indirect auto top of mind at Senate Banking hearing
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Legislation, Nonbank Financial
Friday, April 8, 2016
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Facing suggestions that the Consumer Financial Protection Bureau was more concerned about collecting money than justice, Director Richard Cordray appeared before the Senate Banking Committee to hear questions on the bureau’s stance that enforcement actions serve as compliance guidance, how it may approach emerging fintech companies and its often-criticized proxy method for detecting discrimination in auto lending.
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