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Post 06 Mar 2018, 6:28 am

Ray Jay wrote:It is evidence that it happened in the past. After these lawsuits the companies substantially changed their policies on auto loans.

Do we have data to show that the problem has been solved by those changes to policy? Are companies self-monitoring, or is there someone collecting data to check, as happens with mortgages?
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Post 06 Mar 2018, 7:12 am

"It is evidence that it happened in the past. After these lawsuits the companies substantially changed their policies on auto loans."

The conclusion I draw from all this...is that if you want a problem solved...give a lawyer a financial incentive to sue . Problem solved! Lawyers: "We don't make a lot of the products you buy...actually we don't make any of the products you buy...but if your product blows up or poisons you...we make things better for you...well, at least for your heirs!"
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Post 06 Mar 2018, 8:00 am

When an auto dealer... is ripping you off;
Who you gonna' call? Saul Goodman!
When your nursing home...is padding its bills;
Who you gonna' call? Saul Goodman!
When a police officer...has choked you out;
Who you gonna' call? Saul Goodman!
When your Toyota...suddenly accel-e-rates.
Who you gonna' call? Saul Goodman!
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Post 06 Mar 2018, 3:04 pm

Ray Jay wrote:
It is evidence that it happened in the past. After these lawsuits the companies substantially changed their policies on auto loans
.
Danivon
Do we have data to show that the problem has been solved by those changes to policy? Are companies self-monitoring, or is there someone collecting data to check, as happens with mortgages?


What we know is the the CFPB had determined that, despite the lawsuits, there were auto finance companies continuing the practices.
Congress could side with the CFPB and its role in protecting consumers.
Or it could side with the Auto dealers and both deny the required collection of data that could be used to enforce equality and fight the actions of the CFPB based upon a technical reading of the legislation governing the CFPB.
It sided with the big money boys against the people of color buying cars ... because campaigns need to be funded.
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Post 07 Mar 2018, 6:54 am

danivon wrote:
Ray Jay wrote:It is evidence that it happened in the past. After these lawsuits the companies substantially changed their policies on auto loans.

Do we have data to show that the problem has been solved by those changes to policy? Are companies self-monitoring, or is there someone collecting data to check, as happens with mortgages?


As I understand it, whereas before dealers had the capacity to charge whatever interest rate they wanted, the auto companies have now reduced their ability to mark up to 3%. (They have to give the dealer something to motivate them.) With a total mark up of just 3%, and the assumption that dealers will mark up everyone as much they can, the ability to substantially harm minorities relative to others is much lower.
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Post 07 Mar 2018, 12:47 pm

Ray Jay wrote:As I understand it, whereas before dealers had the capacity to charge whatever interest rate they wanted, the auto companies have now reduced their ability to mark up to 3%. (They have to give the dealer something to motivate them.) With a total mark up of just 3%, and the assumption that dealers will mark up everyone as much they can, the ability to substantially harm minorities relative to others is much lower.

Key word underlined for you.

Data?
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Post 09 Mar 2018, 7:22 am

danivon wrote:
Ray Jay wrote:As I understand it, whereas before dealers had the capacity to charge whatever interest rate they wanted, the auto companies have now reduced their ability to mark up to 3%. (They have to give the dealer something to motivate them.) With a total mark up of just 3%, and the assumption that dealers will mark up everyone as much they can, the ability to substantially harm minorities relative to others is much lower.

Key word underlined for you.

Data?


Not sure I understand. You want me to produce data that proves that capitalists are greedy?
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Post 10 Mar 2018, 1:33 am

Ray Jay wrote:
danivon wrote:
Ray Jay wrote:As I understand it, whereas before dealers had the capacity to charge whatever interest rate they wanted, the auto companies have now reduced their ability to mark up to 3%. (They have to give the dealer something to motivate them.) With a total mark up of just 3%, and the assumption that dealers will mark up everyone as much they can, the ability to substantially harm minorities relative to others is much lower.

Key word underlined for you.

Data?
it

Not sure I understand. You want me to produce data that proves that capitalists are greedy?
No, I would like evidence on whether the changes you mentioned reduced racial discrimination effects in the car loan market, and if so by how much.

How hard is this to grasp?
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Post 11 Mar 2018, 8:12 am

danivon wrote:
Ray Jay wrote:
danivon wrote:
Ray Jay wrote:As I understand it, whereas before dealers had the capacity to charge whatever interest rate they wanted, the auto companies have now reduced their ability to mark up to 3%. (They have to give the dealer something to motivate them.) With a total mark up of just 3%, and the assumption that dealers will mark up everyone as much they can, the ability to substantially harm minorities relative to others is much lower.

Key word underlined for you.

Data?
it

Not sure I understand. You want me to produce data that proves that capitalists are greedy?
No, I would like evidence on whether the changes you mentioned reduced racial discrimination effects in the car loan market, and if so by how much.

How hard is this to grasp?


So when someone says "Not sure I understand", your response is "How hard is this to grasp". Why do you think that is a reasonable way to respond? Your conversation style can be very confusing to me and to others as well.

The racial discrimination effect changes are real. From one of Ricky's cites on the lawsuits regarding Toyota:

The agreement limits the amount dealers can mark up a loan to a maximum of 125 basis points, according to its statement.
...

The CEO of AutoNation, Inc. the largest U.S. auto dealership chain, has urged other dealers to follow the practices outlined in the Honda settlement, saying they could reduce variability in loans without hurting the dealer economically.


You also have to measure the cost of these regulations to the dealers.
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Post 12 Mar 2018, 4:13 pm

Again, that describes the changes, but does not quantify the actual effects.