The federal spending bill being negotiated by House and Senate leaders is not likely to include an extension of the $7,500 tax credit for buyers of electric vehicles.
President Donald Trump, House Speaker Nancy Pelosi, and factory and labor officials all cheered the imminent passage of a revised version of the U.S.-Mexico-Canada trade bill.
The Federal Reserve has announced its third interest rate reduction since July, this time excluding language committing the central bank to action in support of economic expansion.
NADA Chairman Charlie Gilchrist voiced his support for the United States-Mexico-Canada Agreement in remarks at a press event. The Texas dealer urged Congress not to ignore the ‘reality’ of an auto industry built on favorable relationships among the three nations.
Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.
Facing new global realities and pressure on multiple fronts, the Federal Reserve cut interest rates for the first time in more than a decade in an attempt to prolong the economic expansion.
President Trump kicked off a weeklong public awareness campaign for the 2017 Tax Cuts and Jobs Act with a visit to Nuss Truck and Equipment in Burnsville, Minn.
The U.S. Senate Banking Committee narrowly approved the nomination of Kathy Kraninger to head the Bureau of Consumer Financial Protection. The vote sends her nomination to the full Senate for consideration.
The CFPB official who went to court last year after Trump appointed Mick Mulvaney as acting director announced on Friday she is leaving the embattled regulator. In a tweet, her attorney said the CFPB official is also dropping her legal fight to be the regulator's acting director.
F&I tracks the rise and fall of the Consumer Financial Protection Bureau’s aggressive but ultimately futile five-year assault on dealer participation.
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