Some dealers are giddy with the prospect of a defanged Consumer Financial Protection Bureau under a Trump administration-appointed director. They apparently think the days of close scrutiny of automotive lending practices are over.
Not so fast.
Auto lending and dealerships' role in arranging those loans are still being scrutinized, just by other players.
Last week, Automotive News published an article on autonews.com about a report from the National Fair Housing Alliance alleging racial discrimination in auto financing arranged by dealerships.
The report has its flaws. The sample size and geographic spread was almost laughably tiny: just eight dealerships, all in eastern Virginia. But the report's co-author said it wasn't a study; it was an "undercover investigation." Think "60 Minutes" or what your local TV station's investigative team might do with hidden cameras.