Auto Lending Practices Are Discriminatory, Need Reform, Says Consumer Rights Activist

President of Consumers for Auto Reliability and Safety Rosemary Shahan says African Americans and Latinos are more subject to auto lender's practices of yo-yo financing. Yo-yo financing is a tactic used by auto lenders that forces the consumer to pay a higher interest rate than initially agreed. (0:20)
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Auto Lenders Are Using Shady Tactics On Consumers, Says Expert

Rosemary Shahan, President of Consumers for Auto Reliability and Safety, says auto-lenders often perform a "bait and switch" and increase interest rates on auto loans after a consumer has purchased a car. She says that this is why auto-lending ought to be included in the jurisdiction of the Consumer Financial Protection Agency. (0:19)
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