FTC Strikes Deals to Ignore Unlawful Credit Discrimination
The FTC is facing criticism for settling cases involving alleged credit discrimination by auto dealerships without requiring explicit proof of intent to discriminate. Critics argue this move undermines previous efforts to protect minority borrowers from predatory lending practices.
Why it matters
This shift in regulatory enforcement raises concerns about the government's commitment to addressing systemic bias in financial services.
The Northern District of Illinois, which presided over one case, says it was never given the opportunity to evaluate one of the new agreements, and Arizona attorney general Kris Mayes, whose office was a coplaintiff in another of the affected cases, calls the move “outrageous.”
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in