In today's world with the ever changing lending climate, most lenders that once were
in the auto lending industry have completely gotten out of the business.
WASHINGTON, D.C. — Today, the National Fair Housing Alliance (NFHA) released an investigative report detailing the ongoing racially discriminatory practices that
exist in the auto lending market.
Plus, view 22 additional FICO Score versions: 9 FICO Score versions
used in auto lending, 10 FICO Score versions used in credit card lending and 3 FICO Score versions often used in mortgage lending.
They also argue the agency overstepped its authority in issuing rules intended to address
discrimination in auto lending that also affect car dealers — an industry that was specifically carved out from the CFPB's purview.
Wells Fargo switched up its executive ranks following the scandal but other investigations into its own sales practices unearthed
issues in its auto lending, mortgage and wealth management divisions.
«Years of data show that unfair, racially discriminatory treatment of consumers is a growing
problem in the auto lending industry,» Mike Calhoun, President of the Center for Responsible Lending, said in a statement.
NADA President Peter Welch says the CFPB is withholding information relative to the methodology it is using to determine whether statistical discrimination
exists in auto lending.
Access your FICO ® Score 9 — the newest FICO Score version — 9 FICO Score versions
used in auto lending, 10 FICO Score versions used in credit card lending and 3 FICO Score versions often used in mortgage lending.