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Expert Analysis

Indirect Auto Lenders Should Expect More Scrutiny

Law360, New York ( January 8, 2014, 1:42 PM EST) -- On Dec. 20, 2013, the Consumer Financial Protection Bureau and the U. S. Department of Justice resolved by consent order their first joint fair-lending action in the indirect auto lending arena against Ally Bank and its parent, Ally Financial Inc. , alleging that the company's dealer compensation policy, which allowed for discretionary dealer pricing, had a disparate impact on certain borrowers in protected classes. . . .

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