CFPB leader not backing down on lending discrimination cases

“But where do those that we have charged go to get their time, their money, or their good names back?” He went on to say that “bringing the full weight of the federal government down. not been.

CFPB Leaders Discuss Bureau’s Approach To Enforcement;. DOJ Reaches Deal In Auto Lending Discrimination Case. Why it matters.. Specifically, the dealerships must omit hidden fees from the required down payment, are prohibited from repossessing a vehicle until the borrower has missed at.

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On Wednesday, the U.S. Senate voted almost entirely along party lines to invalidate, under the Congressional Review Act, the Consumer Financial Protection Bureau’s (CFPB) (in)famous 2013 Bulletin on lending discrimination in the indirect auto market via discretionary mark-ups and dealer compensation policies.

Three years after its launch, the CFPB had addressed more. with a majority of those cases concerning housing and lending discrimination. Former DOJ officials predict that Trump’s administration.

That span also saw the Trump administration’s challenges to Cordray’s leadership. CFPB policy restricting indirect auto lenders needed to be resent to Congress for review, essentially invalidating.

The CFPB has sued several for-profit colleges for predatory lending practices, including ITT Educational Services, which announced last year that it planned to shut down. case, citing federal.

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CFPB enforces federal fair lending rules designed to prevent discrimination based on protected demographic characteristics, such as race, religion, or gender. The doctrine of disparate impact, which is used in many fair lending cases, has received considerable attention in recent years. It holds that certain practices are discriminatory and.

Racial and gender discrimination is widespread within the Consumer Financial Protection Bureau, the first new federal agency president barack Obama created, according to a blistering report released monday by the investigative arm of Congress.. Twenty five percent of black, Asian and female employees of the bureau told the General Accountability Office (GAO) in a survey that they "they had.

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Not one single action against lenders who discriminate. Not one dollar returned to borrowers who got turned down or charged more because of the color of their skin. Rich Cordray filed 11 lending discrimination cases, recovered almost $620 million for consumers who were targets of discrimination.