New York Department of Financial Services settles enforcement action with community bank over auto dealer fair lending allegations
CFPB Monitor
OCTOBER 25, 2022
Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.
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