For more than a year, the Consumer Financial Protection Bureau, an unelected government agency tasked with regulating the consumer finance market, has doggedly pursued what it views as “disparities” in auto lending. On this issue, you have to respect their determination: They’ve let nothing stand in their way, including lack of evidence.

It came as no surprise, then, when earlier this week the CFPB finally formally accused Honda and Toyota of discriminatory loan practices. Honda confirmed that the CFPB is seeking, “monetary relief and implementation of changes to our discretionary pricing practices and policies.” More automakers could be named in the coming weeks.

Both Toyota and Honda are working with the federal government to achieve a resolution. I imagine they will ultimately pay a fine and agree to refine portions of their pricing practices. Perhaps they will even be forced to switch to flat fees, thereby punishing well-qualified consumers by denying them access to lower rates. Automakers know, just like the rest of us, that when the United States government paints a target on your back, the best thing to do is cooperate. It’s just too bad that in this case the automakers already share the CFPB’s commitment to fair lending.

Auto lending in the U.S. is a fair and well-organized process. How do I know? Well, for one thing, I’m a dealer who writes thousands of loans every year to satisfied customers. For another, I’ve seen the recent study by the American Financial Services Association (AFSA) that found the CFPB’s approach to identify loan discrepancies was deeply flawed. For example, the methodology they used to classify loan applicants as African-American borrowers was correct just 24 percent of the time.

You can check out the full study here, and be amazed, like me, that the CFPB continues to push this argument despite their astounding lack of reliable data.

There are a number of ways the CFPB could make a difference in the lives of American consumers. One of the first would be to increase opportunities for, and access to, comprehensive financial education for all Americans. Unfortunately, instead they have chosen to focus on and unfairly attack a single industry, perhaps enjoying the chance to see themselves righting social injustice in the nation’s headlines.

And why let truth stand in the way of an opportunity like that?

Larry Kull is the AIADA (American International Automotive Dealers Association) chairman. See this post and more at the Chairman’s Blog.