Headline RoundupMay 21st, 2018
President Trump Signs Bill Scrapping Auto-lending Measure Targeting Racial Bias
Summary from the AllSides News Team
President Trump signed a bill nullifying an Obama-era rule put in place to protect consumers from racial discrimination when seeking loans to buy a car. Supporters of the repeal say that the Bureau of Consumer Financial Protection (CFPB) did not follow formal procedures to make the guidelines, as Obama did not submit it to Congress for review, and also note that Dodd-Frank law prevents the CFPB from regulating auto dealers. Detractors argue that it will allow these dealers to discriminate against minorities.
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From the Left
Trump signs resolution killing rule intended to prevent racial bias in auto lendingUSA TODAY
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Auto dealers will once again be allowed to mark up the interest rates on auto loans to sell their cars — a practice critics say is racially discriminatory — after President Trump signed a bill striking down a rule discouraging the practice.
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From the Right
The Tyranny of the Administrative StateReason
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Unelected bureaucrats should not wield legislative power.
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From the Left
Trump signs bill blocking consumer bureau auto-lending measurePolitico
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President Donald Trump today signed legislation that will undo a 2013 effort by the Consumer Financial Protection Bureau to discourage discrimination in auto lending.
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