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Patricia Covington, partner at legal compliance firm Hudson Cook (left), Andy Koblenz, vice president and general counsel for NADA (middle) and Paul Metrey, chief regulatory counsel for NADA (right) discuss auto lending regulations and the CFPB.

LAS VEGAS – The National Automobile Dealer Association said the CFPB is inaccurately identifying discriminatory lending practices at auto dealerships. The group offered its own solution for lenders and dealers looking to defend their lending decisions during a breakout panel session at the Drive ’15: CU Direct Lending & Marketing Conference Wednesday in Las Vegas.

Andy Koblenz, vice president and general counsel for NADA, and Paul Metrey, chief regulatory counsel for NADA, explained that since it’s illegal to collect race-related information on borrowers in the auto lending space, the CFPB gathers that information using a flawed, proxy analysis technique that involves comparing the races associated with borrowers’ last names and places of residence against information provided on mortgage loan applications.

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Natasha Chilingerian

Natasha has served as an editor for CU Times since March 2015. She also served as a communications specialist for Xceed Financial Credit Union (now Kinecta FCU) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer for more than 16 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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