Apparently, RickyP thinks African-Americans need more help in avoiding making poor decisions than European-Americans.
Its as if you don't think that the US has a rich history of racial discrimination?
I think most consumers are at a disadvantage when dealing with large corporations that engage in deceptive marketing and sales tactics. Banks (like wells fargo) have engaged in fraudulent tactics to make millions a few hundred dollars at a time... http://money.cnn.com/2017/08/31/investi ... index.html
In this case here's what we know.
unlike mortgage applicants, auto-loan applicants don’t have to disclose their race or ethnicity; it’s strictly prohibited under the 1974 Equal Credit Opportunity Act (ECOA)
The CFPB strongly suspected, after complaints, that visible minorities were paying more for their car loans. And developed a methodology to estimate the extent of the fraud since ECOA, lobbied for by the financial institutions, protected auto loans from scrutiny.
NADA complained to Congress that the CFPB’s methodology of determining discriminatory pricing was inaccurate, and has been lobbying Congress heavily, with nearly $3 million in campaign contributions to members in the 2014 election cycle, and another $3.2 million in lobbying, according to the Center for Responsive Politics.
Why would the NADA spend so much money and time lobbying ? Obviously they are protecting a profitable tactic.
A government concerned with the well being of their consumer population would interpret the mandate of the CFPB broadly and welcome their intervention on the side of the consumers.
A government concerned with appeasing a lobby group that contributes to their campaign funds, will narrowly interpret the regulation and fight the CFPB's efforts on behalf of consumers.
Nothing about this had anything to do with "ending burdensome regulation to energize the economy".
It had to do with, once again, siding with financial institutions that bleed consumers ....
and with auto dealers who get their extra little piece.
As a Trumpian effort to charge the economy its just another "con mans claim".