Bloomberg News
Slide 2 of 7
Indirect auto lending guidance
The most recent blow against the CFPB came Tuesday, when the Government Accountability Office said the agency had not properly submitted its 2013 auto lending guidance to Congress for a review. The guidance had put indirect auto lenders on the hook for any unintentional discrimination on behalf of their partner dealers.

The finding was significant, as it means the guidance cannot be enforced until it is resubmitted to Congress — something unlikely to happen now that Mulvaney is in control. Even if the CFPB did rebsubmit it, Sen. Pat Toomey, R-Pa., and other Republicans would likely muster enough votes to repeal the rule under the Congressional Review Act, a process that allows lawmakers to scrap recent regulations via a majority vote.

The defeat of the guidance was a significant blow to the agency, which had sought to gain control over auto lending even though the Dodd-Frank Act specifically barred it from going after auto dealers.


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