The Consumer Financial Protection Bureau launched an anti-discrimination crusade against banks giving auto loans in 2012 based not on specific complaints by consumers, but on "half-baked" statistics, according to a story in The New York Post. In fact, there were no complaints filed with the Bureau at all.  Instead, the CFPB issued summary judgments extorting and shaking down banks in an effort to achieve "racial justice." Newly uncovered internal memos reveal the Obama administration knowingly exaggerated charges of racial discrimination in probes of Ally Bank and other defendants in the $900 billion car-lending business as part of a “racial justice” campaign that’s looking more like a massive government extortion and shakedown operation. So far, Obama’s Consumer Financial Protection Bureau has reached more than $220 million in settlements with several auto lenders since the agency launched its anti-discrimination crusade...(Read Full Post)