Dealers Move Closer to Exemption From Wall Street Reform
The United States Senate demonstrated bipartisan support for auto dealers on Monday, voting 60-30 to approve a “motion to instruct” lawmakers to include the Brownback Amendment in future versions of the financial regulation bill.
WASHINGTON — The United States Senate demonstrated bipartisan support for auto dealers on Monday, voting 60-30 to approve a “motion to instruct” lawmakers to include the Brownback Amendment in future versions of the financial regulation bill. The amendment, authored by Sen. Sam Brownback (R-Kan.), seeks to exempt auto, marine and RV dealers from sweeping lending practices reforms.
“I am pleased that both the Senate and the House have taken positions on the financial regulation bill to include language to prevent car dealerships from being subjected to redundant regulations,” Brownback said. “It simply does not make sense to treat auto dealerships like financial institutions. Auto dealers are a part of Main Street, not Wall Street, and they are not responsible for the financial meltdown.”
The motion to instruct is a nonbinding but pivotal vote as the legislation heads to committee, where differences in the Senate and House versions will be worked out. Phil Brady, president of the National Automobile Dealers Association, was encouraged by Monday’s vote after months of campaigning on behalf of the organization and its associated dealers.
“Senators clearly understand that dealers are not lenders — they do not underwrite, fund or service auto loans,” Brady said. “They also realize that jurisdiction of the Bureau of Consumer Financial Protection over auto dealers is unnecessary because dealers are already effectively regulated by the Federal Reserve, the Federal Trade Commission and state agencies.”
Third-party financing currently represents about 90 percent of all auto loan originations in the United States, including financing through captive and independent lenders, finance companies and credit unions.
More F&I

The Psychology Behind Menus That Increase Add-On Sales
There is a science to crafting a menu that gives customers confidence in the choices presented, and moving the process outside the F&I office can further boost results.
Read More →
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →
F&I Reaches for the Sky
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
Read More →
What Market Timing Mistakes Mean for Your Reinsurance Program
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
The 90/10 Rule
In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
Read More →
Your Office Is Talking
What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
Read More →
F&I Training Fundamentals
How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
Read More →