Threat of Regulation Impacting Bad Credit Car Loan Approvals

The article begins by mentioning that the automotive retail industry’s rate of subprime approvals went down by 4% last month. Regardless of the reason behind the decline, some states around the country are starting to threaten the industry with additional regulations to ensure they are not taking advantage of consumers that have low income levels. Lenders, in fear of impending regulation, are approving fewer consumers for auto loans.

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