Is it illegal for a dealer to only provide sub-prime auto finance information to minority applicants?

The assertion is true because it reflects a violation of fair lending laws and anti-discrimination statutes. It is illegal for dealers or lenders to provide different financial terms, such as sub-prime rates, based solely on an applicant's minority status or any other protected characteristic. The Equal Credit Opportunity Act (ECOA) prohibits discrimination in any aspect of credit transactions, ensuring that all applicants should receive equitable treatment regardless of race, color, religion, national origin, sex, marital status, or age.

When a dealer restricts financing options to sub-prime rates solely for minority applicants, it perpetuates systemic inequality and exposes the dealer to legal risks, including complaints and potential lawsuits. This practice undermines the principle of fair access to credit and can have lasting negative impacts on the financial well-being of individuals in minority communities. It's crucial for institutions to provide transparent and equitable finance options to all applicants, reflecting their creditworthiness rather than any discriminatory practices.