WASHINGTON — Consumer Financial Protection Bureau Director Richard Cordray praised BMO Harris Bank on Wednesday for becoming the first indirect auto lender to switch to a flat-fee structure, limiting the amount of discretion that dealers have to price finance loans.

The move reportedly came as a result of the CFPB's bulletin last year warning lenders they could be cited for unintentional discrimination if they partnered with lenders that marked up interest rates on loans to minorities and other protected legal classes of borrowers.

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