Car Buyer Protections Still Up in the Air
Today is the sixth day of substantive debate by the Congressional Conference Committee discussing financial reform (see its members here). Consumer protections were discussed on Tuesday, but decisions were postponed.
AFR produced this list of outstanding questions regarding the Consumer Protection Bureau. At issue, still, is whether auto dealers will be covered by the CFPA. We’ve long argued that car dealers – when they make loans – are lenders. It’s pretty simple, really. They shouldn’t get a special exemption from the rules, no matter how much clout they have on Capitol Hill.
Because there’s no decision yet, there’s still time to sign this petition asking Congress to oversee car dealers. For more explanation and inspiration, check out Professor Elizabeth Warren on Fox Business News here or below.
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