CFPB Fair Lending Report

The Bureau has released its fifth Fair Lending Report. The CFBP reports that, during 2016: To protect consumers and better understand issues facing lenders, the Bureau engaged in significant outreach with industry, civil rights advocates, consumer groups, and other stakeholders to ensure a diverse set of viewpoints are incorporated into our work The CFPB protected consumers by working with other … Read More

DCU Bulletin B-16-18

On October 12, 2016, the DCU released Bulletin B-16-18, Indirect Lending and Credit Tier Exceptions.  The Bulletin includes credit risk concerns and fair lending risks. The Bulletin addresses concerns with indirect lending procedures and practices which allow underwriters to bump a vehicle loan applicant to a higher credit tier and interest rate that is more favorable to the applicant when … Read More