rssSenate Recommends Brownback Auto Lending Exemption
Monday, May 24, 2010 at 6:19 pm
- 6 Comments
The Senate just voted to recommend that its conferees working to reconcile the House and Senate financial regulatory reform bills include Sen. Sam Brownback’s (R-Kans.) language exempting auto dealers that make loans from Consumer Financial Protection Agency oversight. The nonbinding motion was agreed to by a surprisingly high margin, 60 to 30. Still, due to strong White House and Defense Department opposition — not to mention the sheer size of the auto lending market and the incidence of abusive lending practices at some dealerships — it is not expected to make it into the final bill.
Follow Annie Lowrey on Twitter
6 Comments
Pingback posted May 24, 2010 @ 6:45 pm
[...] full post on The Washington Independent Don't miss a single post! Subscribe to my RSS [...]
Comment posted May 24, 2010 @ 10:31 pm
There's a reason car dealerships and their sales people have a certain and sometimes unsaid reputation in the consumer world. Many are notorious for various dubious tactics used to close a deal at almost any cost. Many view the consumer as prey when they walk onto the lot and the game is on…
Congress needs to step up to the plate against these guys and back the consumer from left to right, back to front and top to bottom. Entertaining the Brownback Amendment in conference is ludicrous and it's unfortunate protections were not even part of the House version.
Case in point is the current arbitration hell that currently exists now into the 4th year involving Mossy Toyota of San Diego.
Please see the video.
http://www.youtube.com/watch?v=9sCUmXfy03c
Comment posted May 24, 2010 @ 10:31 pm
There's a reason car dealerships and their sales people have a certain and sometimes unsaid reputation in the consumer world. Many are notorious for various dubious tactics used to close a deal at almost any cost. Many view the consumer as prey when they walk onto the lot and the game is on…
Congress needs to step up to the plate against these guys and back the consumer from left to right, back to front and top to bottom. Entertaining the Brownback Amendment in conference is ludicrous and it's unfortunate protections were not even part of the House version.
Case in point is the current arbitration hell that currently exists now into the 4th year involving Mossy Toyota of San Diego.
Please see the video.
http://www.youtube.com/watch?v=9sCUmXfy03c
Pingback posted May 26, 2010 @ 5:18 am
[...] …News Dealers Dodge Financing Oversightwill Shady Lending TooTheCarConnection.com (blog)Senate Recommends Brownback Auto Lending ExemptionThe Washington IndependentAuto Lender Lobbyists' Last Stand in the SenateFavStocks [...]
Comment posted June 3, 2010 @ 7:06 am
Thanks for your information.
women air max uk
discount air max 95
nike air max uk
discount air max classic bw
cheap nike air max ltd
Comment posted January 1, 2011 @ 11:04 am
Love the post and it took me a long time to scroll down to the bottom with what everyone had to say.
RSS feed for comments on this post.
Sorry, the comment form is closed at this time.
