A failure to compromise – auto dealer regulation

by MarielP

Auto dealer regulation is on the minds of House Democrats of late, or
more specifically a lack thereof. Their belief is that the newly formed
Consumer Financial Protection Agency (CFPA) would hamper auto dealers'
ability to recuperate by limiting their ability to continue offering
dealer-assisted financing. Led by New York Reps. Bill Owens and Mike
McMahon, the Democrats thought that they might have achieved an
acceptable bipartisan compromise – until now. It was reported by
Automotive News that an additional provision was surreptitiously
inserted into the bill that would have actually expanded the CFPA's
oversight over car dealers.