Patrick J. Toomey

GOP's regulatory fight goes to another level over car loans

The GOP-led Senate voted Wednesday to block Obama-era guidance a consumer protection agency issued five years ago to help ensure lenders don't charge blacks and Hispanics higher interest rates on car loans.

The vote was 51-47. Sen. Joe Manchin of West Virginia was the only Democratic lawmaker to side with Republicans in voting for the measure, which now must pass the House before it goes to President Donald Trump for his signature.

Republicans said that rescinding the guidance is necessary because it amounted to a backdoor attempt to regulate auto dealers. Congress expressly prohibited such regulation when establishing the consumer protection agency through passage of...

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