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25

Consumer Bureau Faulted on Auto Lending Inquiry

By Tony Seruga

A congressional report criticizing a 2013 settlement by Ally Financial over discriminatory auto lending practices could give more ammunition to lawmakers trying to abolish the Consumer Financial Protection Bureau.

The report, issued on Tuesday by Republican members of the House Financial Services Committee, called the fledgling agency’s methodology for determining discrimination “junk science” and said the bureau went after Ally because it knew the lender would settle quickly to avoid problems getting government approval on its restructuring…

Consumer Bureau Faulted on Auto Lending Inquiry

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