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Media report: CFPB wants settlement with Fifth Third Bank over auto dealer markups
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Although both the bureau and bank have not publicly confirmed this, a recent Wall Street Journal story alleges a settlement may be looming to resolve concerns about the interest-rate markups Fifth Third Bank allows its dealer partners to make. If a settlement does occur, it will be the latest event in the CFPB’s ongoing crackdown of unfair lending practices, as it has settled similar accusations against other lenders in recent months.
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