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. The 2013 Bulletin, construing the Equal Credit Opportunity Act and its implementing rule,… Continue Reading
“The judgment is affirmed by an equally divided Court.” One sentence, published by the United State Supreme Court on March 22, 2016 sealed the fate of two plaintiffs seeking to expand protections under the Equal Credit Opportunity Act (ECOA), 15 U.S.C. 1691 et seq., to allow spousal guarantors to bring claims against creditors for marital… Continue Reading
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