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Soon-to-be-Released CFA Report Documents Discriminatory Auto Financing, Lending Practices

WASHINGTON - The Consumer Federation of America, along with the Rainbow/PUSH Coalition and the National Council of LaRaza plan to release a report on Jan. 24 they say documents how a "secretive finance markup charge in auto-lending" winds up costing consumers hundreds of millions of dollars in undisclosed charges on...

By Staff Writer | Updated on January 27, 2004

WASHINGTON – The Consumer Federation of America, along with the Rainbow/PUSH Coalition and the National Council of LaRaza plan to release a report on Jan. 24 they say documents how a “secretive finance markup charge in auto-lending” winds up costing consumers hundreds of millions of dollars in undisclosed charges on auto loans and kickbacks to car dealers. The report, states a CFA release, demonstrates how this practice “leads to significant disparities in the auto finance rates of African-Americans and Hispanics as compared to all others.” Presenting the report findings will be: Stephen Brobeck, executive director, CFA; Glenda Gil, deputy director, Rainbow/PUSH Coalition, Detroit Bureau; and Eric Rodriguez, senior policy analyst, National Council of La Raza.

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