Senate votes to ban higher pay for offering higher-interest loans

Obama: Keep car dealers in consumer bill
WASHINGTON -- President Barack Obama warned Wednesday that exempting auto dealers from a new consumer protection agency would hurt buyers and let dealers continue "deceptive practices."
Senate votes to ban higher pay for offering higher-interest loans
Taking aim at deceptive lending, the Senate voted Wednesday to ban mortgage brokers and loan officers from getting greater pay for offering higher interest rates on loans and to require that borrowers prove they can repay their loans.

Auto Borrowing Associates

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Tagged with: higher • higherinterest • Loans • offering • Senate • Votes