Article • Dean Baker’s Beat the Press
Fact-based, data-driven research and analysis to advance democratic debate on vital issues shaping people’s lives.
Center for Economic and Policy Research
1611 Connecticut Ave. NW
Suite 400
Washington, DC 20009
Tel: 202-293-5380
Fax: 202-588-1356
https://cepr.net
This is an important point that would have been worth including in this NYT article on the growing risks in the subprime car loan market. The lack of oversight from the Consumer Financial Protection Bureau (CFPB) is likely a major reason that bad lending practices persist in this area.
Note: I corrected the title to make it more accurate. The loans themselves are covered by the CFPB, the arrangements and discussions by dealers explaining the terms of the loan are not. Thanks to Robert Salzberg for calling this to my attention.