Discriminatory Lending Practices
2004-01-26T21:50:34-05:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvZWYwXC8yMDA0MDEyNjIxNTExMzAwMl9oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Officials talked about a report released by the Consumer Federation of America, alleging that automobile lending practices discriminate against minorities. They claimed that dealers often increase the base interest rate offered by lenders which resulted in minority buyers paying a higher-than-market rate. The dealer and lender then divide the profits of the markup. Following prepared statements, the officials responded to questions from reporters.
Officials talked about a report released by the Consumer Federation of America, alleging that automobile lending practices discriminate agai… read more
Officials talked about a report released by the Consumer Federation of America, alleging that automobile lending practices discriminate against minorities. They claimed that dealers often increase the base interest rate offered by lenders which resulted in minority buyers paying a higher-than-market rate. The dealer and lender then divide the profits of the markup. Following prepared statements, the officials responded to questions from reporters. close
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