The Senate voted on Tuesday to exempt auto loans from Consumer Financial Protection Bureau guidance intended to root out discriminatory lending practices. The bigger picture: the affirmative, 51-47 vote will also give legislators greater ability to unleash the Congressional Review Act as a regulation-killing weapon.
The 2013 bulletin issued by the CFPB alleges that potentially discriminatory markups in auto lending may result in tens of millions of dollars in consumer harm each year.
