Nullifies a CFPB rule which required indirect auto lenders to comply with fair lending requirements.
This joint resolution nullifies the rule submitted by the Consumer Financial Protection Bureau and printed in the Congressional Record on December 6, 2017, relating to indirect auto lending and compliance with the Equal Credit Opportunity Act. The rule provides guidance for compliance with fair lending requirements for third-party auto lenders.
Original sponsor: Sen. Moran, Jerry [R-KS]
Passed House: http://clerk.house.gov/evs/2018/roll171.xml
Related bill: HRES 872 (Did not pass Senate)