Center for Responsible Lending finds Hispanic and black car buyers receive higher interest rates on loans financed through dealerships.
It didn’t take long to hear the buzz when the Consumer Financial Protection Bureau reminded indirect lenders that they must comply with certain regulations to ensure that they are not discriminating against minorities when marking up interest rates.
Thick in the heyday of originating indirect loans, credit unions basked as the slices of their auto lending portfolios swelled to historic proportions.
Vehicle loan originations continued to be a bright spot for credit unions this year.
More than a week after President Obama was given another opportunity to lead the country, most pundits agree that how voters in states like Michigan and Ohio felt about the federal bailout of the auto industry played a huge role in the campaign’s outcome.
Given the stall in lending activity for many in the industry since the recession, AltaOne Federal Credit Union was expecting to see negative signs in its auto loan portfolio at the end of 2011.
Like most parts of the country, unemployment has hit some members of ORNL Federal Credit Union in a devastating way.