| Subprime
Tricolor Auto Acceptance Says CRA Reg Will
Help It As Regulators Asleep at Switch
By Matthew
Russell Lee, Patreon Maxwell
book
BBC -
Honduras
- CIA
Trial book - NY
Mag
South Bronx NYC,
Sept 7 – How serious is the
current proposal to re-vamp
the U.S. Community
Reinvestment Act regulations?
Well,
subprime auto lender Tricolor
Auto Acceptance's CEO Daniel
Chu is bragging that "banks
that lend to Tricolor receive
vicarious CRA
credit."
Worse,
Tricolor was approved by the
US Treasury Department as a
Community Developing Financial
Institutions, even after
setting with the FTC for
violation the Fair Credit
Reporting Act.
Fair
Finance Watch, with Inner City
Press on the FOIA, timely
commented against such scams,
here.
The price of real CRA is
eternal vigilance.
***
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