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Obama administration

Audit Criticizes Task Force, OEMs for Dealer Terminations

An audit prepared by a watchdog agency says last year’s decision by General Motors Co., Chrysler LLC and the Obama administration’s Auto Task Force to terminate franchise agreements with hundreds of dealers was made in haste.

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AFSA Opposes Obama's Proposal for New Federal Agency

President Barack Obama addressed Wall Street’s financial firms Monday to promote his agenda for financial regulatory reform, which includes expanding the authority of the Federal Reserve and creating the Consumer Financial Protection Agency (CFPA). But at least one association representing the financial services industry is balking at his proposals.

AFSA Opposes Obama's Proposal for New Federal Agency

President Barack Obama addressed Wall Street’s financial firms Monday to promote his agenda for financial regulatory reform, which includes expanding the authority of the Federal Reserve and creating the Consumer Financial Protection Agency (CFPA). But at least one association representing the financial services industry is balking at his proposals.

Administration’s Regulatory Overhaul a Tall Order

F&I's Gregory Arroyo takes a look at the Obama administration's plan to overhaul the financial regulatory system.

GM Exchange Offers for Outstanding Public Debt Expire

General Motors Corp. moved closer to bankruptcy today after it announced the failed deal with its bondholders to exchange their debt for equity in the company.

Expansion of SBA Program Is Good News for Floorplan Financing

John McEleney, chairman of the National Automobile Dealers Association, announced his support last week for recent changes to SBA 7(a), a Small Business Administration loan-guarantee program.

NADA Urges Obama Administration to Increase Auto Credit Flow to Consumers and Dealers

The Chairman of the National Automobile Dealers Association (NADA) acknowledged President Obama’s commitment to helping the domestic auto industry, but urged his administration to focus on correcting the dysfunctional credit markets.

Dealer Associations Urge Obama to Stimulate Market for Inventory and Retail Financing

Three associations — the National Auto Dealers Association (NADA), the American International Auto Dealers Association and the National Association of Minority Auto Dealers (NAMAD) — sent a joint letter to President Barack Obama last week urging him to revitalize the market for vehicle inventory and retail auto financing.

NADA Chairman Says Next Two Months are Critical to Industry's Future

With 2009 expected to be one of the toughest years yet for auto retailing, the incoming chairman of the National Automobile Dealers Association issued a call-to-action Monday.