Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment.
As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority.
Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to the Federal Reserve Board.
Dueling blockchain stories — one arguing it was virtually useless, the other saying it could change real estate lending — seized the top spots this week, while readers also focused on tax reform aftermath and a key Senate retirement.
A GAO determination has effectively nullified a 2013 leveraged lending guidance. But that leaves the future uncertain about what, if anything, regulators will devise to replace it — and how banks should treat such loans in the meantime.