Regulator Seeks Greater Oversight of Auto Financing

The Consumer Financial Protection Bureau wants to extend its oversight to large nonbank auto-finance companies to make sure they are not discriminating against consumers. The CFPB announced today its proposed rule to expand its supervision to these companies, which would include the finance arms of auto manufacturers. “Nonbank auto-finance companies extend hundreds of billions of dollars in credit to American consumers, yet they have never been supervised at the federal level,” CFPB Director Richard Cordray said in a statement. “Today’s proposal …

Federal Judge Strikes Down Wisconsin Voter ID Law

A federal judge in Milwaukee has struck down Wisconsin’s voter ID law, holding that it unconstitutionally discriminates against low-income and minority voters, who are less likely to have photo IDs or the documents needed to obtain them. U.S. District Judge Lynn Adelman’s decision comes less than a week after a state judge declared a new Arkansas law requiring voters to show government- or college-issued photo IDs for their ballots to count to be “void and unenforceable.” (Days later, the Arkansas …