Oppose H.R. 1737, the Reforming Consumer Financial Protection Bureau's Indirect Auto Financing Guidance Act. This bill condones discrimination against minority car buyers - it is designed to prevent the CFPB from enforcing the law. The Bureau's efforts to combat racial discrimination in auto lending must be backed, not blocked.
Why is this important?
For years, African-Americans, as well as Hispanic and Asian Americans, have paid significantly higher interest rates on car loans than have other buyers of equal credit-worthiness. Now, in a fresh outrage, more than 170 members of Congress are trying to undermine the Consumer Financial Protection Bureau's ability to combat discrimination in the auto lending market.