Promoting Fair Credit Compliance

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Paul Metrey

Consumer advocacy groups have long argued that the portion of the APR that dealers earn for originating a credit contract – known as dealer participation – is charged by dealers arbitrarily and inconsistently which can lead to unlawful credit discrimination against consumers. The Department of Justice has stated that exercising pricing discretion presents this risk but that there are also ways to manage it.

Join Paul Metrey, Vice President, Regulatory Affairs at NADA, as he explains how the optional NADA/NAMAD/AIADA Fair Credit Compliance Policy & Program adopts and builds on the DOJ approach both to help ensure consumers are offered fair access to credit and protect dealers against pricing discrimination claims. As this issue is expected to gain more attention in the months ahead, it is essential that dealers understand this threat and how they can address it.

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