Will Disparate Impact Auto Finance Claims Disappear?

© Can Stock Photo / kuosumo

As of this writing, the Senate has passed a joint resolution under its Congressional Review Act authority disapproving of the Consumer Financial Protection Bureau’s March 2013 auto lending bulletin that addressed discrimination in indirect auto finance transactions. The House is slated to follow suit, and the president is expected to sign it. The joint resolution, if enacted, will invalidate the bulletin, and prohibit the CFPB from writing a rule substantially similar to the bulletin without new and express authorization from Congress:

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