US House votes to overturn rule against racial discrimination in auto loans News
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US House votes to overturn rule against racial discrimination in auto loans

The US House of Representatives voted [roll call] 234-175 on Tuesday to overturn a rule [text] implemented to prevent discrimination in auto lending.

Implemented in 2013 by the Consumer Financial Protection Bureau (CFRB) [official website], the rule ensures that auto lenders cannot charge higher fees to borrowers based on race, national original or credit score.

Republican lawmakers have invoked the Congressional Review Act [text] that allows Congress to get rid of regulations shortly after they are imposed.

The Senate voted [JURIST report] to repeal the rule in April. The resolution will now go to President Donald Trump for approval.

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