Blumenthal Slams Congressional Resolution Rolling Back Protections Against Discriminatory Auto Lending

[WASHINGTON, D.C.] – U.S. Senator Richard Blumenthal (D-CT) released the following statement today after voting against a Congressional resolution that would rescind Consumer Financial Protection Bureau guidance meant to protect against discriminatory auto lending practices:

“This truly repugnant resolution ignores the unacceptable, undeniable truth that consumers’ interest rates are regularly marked up based on their race or ethnicity – a disgusting practice that continues to run rampant across the country. Purchasing a car gives people independence and opportunity. A fair auto loan can be the reason someone is able to go to work, attend school, pick up their kids, and shop for groceries. Perpetuating predatory practices that lock consumers of color into higher auto loan interest rates doesn’t just harm those individuals, it exacerbates ethnic and racial wealth disparities that feed into the deep inequality that exists in our country today.”