Trump signs repeal of rule protecting minorities from car-dealer discrimination
Source: Independent
Rule targeted 'dealer markups' that disproportionately affect minorities
Emily Shugerman New York @eshugerman 4 hours ago
President Donald Trump has signed legislation rolling back auto-lending guidance designed to protect minorities from discrimination by car dealers.
Congress voted last month to overturn guidance from the Consumer Financial Protection Bureau (CFPB) that targeted dealer markups interest rate hikes that auto dealers place on third-party auto loans to make a profit. Mr Trump signed the bill into law on Monday in a private session.
Studies have shown minorities are regularly charged more for dealer markups than white buyers with similar credit. The CFPB warned dealers in 2013 against using these markups, saying they could lead to a lawsuit from the agency. Since then, the bureau has penalised major companies like Honda, Toyota, and Ally Financial for lending discrimination.
But opponents of the rule said it overstepped the bureaus mandate and stifled business growth. Some Republicans, such as Representative Jeb Hensarling, also questioned the methods of studies showing racial discrimination.
Read more: https://www.independent.co.uk/news/world/americas/us-politics/trump-auto-loan-rule-repeal-racial-discrimination-minorities-dealer-markup-congressional-review-act-a8362596.html
Va Lefty
(6,252 posts)Little surprises my anymore
Kath2
(3,074 posts)Just TO them. Evil asshole.
rockfordfile
(8,699 posts)TeamPooka
(24,210 posts)again and again and again.
flibbitygiblets
(7,220 posts)Trump: What have you got to lose?
--Show clip of "very fine people"
--Show clip of "they're animals"
--Show articles about "shithole countries
--about 1,000 other things that have been "lost" by people of color
47of74
(18,470 posts)Not gonna sugar coat it. We're a shithole country with this orange stooge and his groupies in charge.
riversedge
(70,093 posts)RKP5637
(67,089 posts)had something like this. I think many are still resting on their butts, still not getting what this ass is all about.
flibbitygiblets
(7,220 posts)they are there to support the community, and much more likely to help you build good credit in the first place. Even being white and with good credit, if I needed a car loan I'd go to the credit union over a car dealer every time Takes away the dealer's power on the purchase price as well.
RKP5637
(67,089 posts)going to hate this man's guts. He will go down in history as the biggest piece of crud in the land. There will be absolutely no respect for this individual.
scarletwoman
(31,893 posts)to minorities as fast as he can.
Fucking racist piece of shit...
SergeStorms
(19,187 posts)are ecstatic, wondering how such a wonderful man like Donnie Trump wasn't elected "president" sooner. I'm sure they're convinced he should be "president for life", and will forever be naming their children (all except the 'InCels') after Little Donnie Trump.
The SANE people in the country can't wait to piss on this racist/fascist's grave.
SFnomad
(3,473 posts)so that we can reverse all of them immediately as soon as the next Democrat is sworn into the White House.
Crash2Parties
(6,017 posts)It's the GOP Congress that wrote it, passed it and sent it on for his illegible signature.
They are the Party of Racists.
They are the Party of Sexists.
They are the Party of Ableists.
They are the Party of Theocrats.
They are the Party of rapists, molesters and perverts - and they don't even try to hide it anymore.
They cheat, they lie, they plunder.
We MUST overwhelmingly vote them out of office despite their efforts to negate our votes.