FI showroom red and grey logo
MenuMENU
SearchSEARCH

House to Vote on CFPB-Altering Bill This Week

Aside from rescinding the CFPB’s guidance on dealer participation, the legislation would add a few steps to the bureau’s guidance-writing activities.

by Staff
November 16, 2015
2 min to read


WASHINGTON, D.C. — The U.S. House of Representatives is expected to vote this week on a bill that would rescind the Consumers Financial Protection Bureau’s guidance on dealer participation and add a few more steps in to its guidance-writing activities.

The House is expected to vote on H.R. 1737, which the House Financial Services Committee passed this past July by a 47-10 vote, either on Wednesday or Thursday. It was introduced this past April by Rep. Frank Guinta (R-N.H.) and Ed Perlmutter (D-Colo.).

Ad Loading...

Aside from repealing the bureau’s March 2013 guidance on dealer participation, the legislation would require that the bureau provide a public comment period, consult with other agencies that share jurisdiction over the indirect auto finance market and disclose its testing methodologies before issuing any further guidance. The bill has received strong support from the National Automobile Dealers Association, which called on members this week to contact their local Congressperson to urge them to vote “Yes” on the bill.

“H.R. 1737 is a good-government bill that says to the CFPB, stay in your lane, make sure you understand the market, listen to the public, listen to the stakeholders — all of them — understand the implications of what you’re doing, understand what your actions do to consumers, and understand what they do to minority-owned businesses, women-owned businesses, and, in fact, all small business,” Andrew Koblenz, the NADA’s executive vice president of legal and regulatory affairs and general counsel, told F&I and Showroom this past September.

“And be transparent,” added Koblenz, who served as a keynote speaker at the magazine’s annual conference in September. “Tell us what you’re basing your analysis on, your conclusions on, and, to the extent you can, what your data shows. And coordinate with other agencies that have share responsibilities in this marketplace …”

More F&I

Assurant, Sell Value Build Trust, F&I Series, Expert Trainer Trent White
F&ISeptember 2, 2026

Sell Value, Build Trust

In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.

Read More →
2026 StoneEagle summary
F&Iby Hannah MitchellAugust 31, 2026

F&I Sales Give Dealers First-Half Lift

Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.

Read More →
man with white hair and glasses delivering a speech standing next to a podium
F&Iby Lauren LawrenceAugust 31, 2026

Targeted Training Drives Results

Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.

Read More →
Ad Loading...
Man's hand holding pen over a paper document
F&Iby Justin B. GasmanAugust 20, 2026

Double the Change, Double the Chance

When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.

Read More →
Laptop computer, tablet, calculator and notebook on a desk
F&Iby John TabarAugust 20, 2026

Just Do It

F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.

Read More →
stacks of coins, a calculator, paperwork, and a pair of glasses in the background, text Lender Experience Drives Dealer Decisions, F&I and Showroom
Auto Financeby Lauren LawrenceAugust 12, 2026

Dealer Lender Preferences Revealed

When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.

Read More →
Ad Loading...
Leading with Purpose thumbnail. Trent white pictured in front of titled graphic.
F&IAugust 5, 2026

Leading with Purpose

In this video, Trent White explains how understanding your people’s 'why' is a key leadership responsibility of F&I professionals and how that mindset drives dealership engagement, trust and performance.

Read More →
Photo of a keyring with mltiple keys, including a car key fob, on a white surface
F&IJuly 15, 2026

Integrating Nontraditional F&I Products

The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.

Read More →
Photo of businessman's hands holding eyeglasses at a desk
F&Iby Rick McCormickJuly 7, 2026

Trust Is Personal

Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.

Read More →
Ad Loading...
Photo of executive in a sports coat and glasses
Industryby StaffJuly 2, 2026

Amplify 2026 Billed as Turning Innovation Into Results

Reynolds and Reynolds says its annual retail summit will connect dealers with practical strategies, peer insight, and technology-driven ideas.

Read More →