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The CFPB has notified the Department of Justice that Santander Consumer USA’s auto lending practices have allegedly violated fair lending laws, according to a regulatory filing.
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The Wall Street Journal reported this week that the CFPB is urging Fifth Third Bank to cap dealer markup as part of a potential settlement with the regulator.
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According to proposed consent orders obtained by American Banker, Honda, Nissan and Toyota’s captive finance companies could soon be on the hook for dealer participation policies.
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