NADA crafts dealer talking points on regulator claims that dealers discriminate on car loans

NADA crafts dealer talking points on regulator claims that dealers discriminate on car loans

In response to charges by newly installed finance reform regulators from the Consumer Finance Protection Bureau (CFPB) that dealers discriminate against minorities in arranging car loans, NADA put together a talking points paper that repudiates CFPBs position and its remedy for fixing what isnt broken. CFPBs fix, of course, is to compel the lenders it regulates to move their dealer partners to a flat fee method of calculating dealer compensation instead of the existing approach grounded in good faith dealer interaction with the consumer in finalizing the financed vehicle sale.

Click here to see NADAs challenge to CFPBs disparate impact initiative on financed auto sales in dealerships.

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