Protestors flocked to a Roseville, Calif., CarMax store today to protest the sale of recalled vehicles and to call on the FTC to investigate the used-vehicle retailer.
The NADA is urging Congress to pass a new bipartisian bill introduced this month that would nullify the CFPB’s guidance on auto lending and require more transparency from the bureau in the future.
Legislation regulating the influence captive finance sources have on F&I product sales has popped up around the nation this year, but the industry disagrees on what is driving these state-by-state battles.
The Pennsylvania House passed legislation this week that will allow the automaker to have as many as five stores in the state.
This week, New York Governor Cuomo signed a pro-Tesla bill into law. The New Jersey Assembly also voted to allow manufacturers to directly sell zero-emissions vehicles to consumers.
The House Financial Services Committee passed a bill this week that would bring more transparency to the CFPB’s guidance-making process. If approved by Congress, it would effectively repeal the bulletin the bureau issued last year on indirect auto lending.
Seven financial organizations issued a letter to the U.S. House of Representatives on May 29 in support of an amendment to an appropriations bill that would limit Justice Department litigation relying on the disparate impact theory of discrimination.
The U.S. Senate unanimously approved a bill last week that eliminates a provision in the Clean Air Act that requires dealers issue a certificate to consumers that confirms a vehicle’s compliance with the law.
Senate Bill 686 would make it illegal for used-car dealers and rental car companies to sell used cars with unrepaired recalls issues. Senator Hannah Beth Jackson held a press conference about the bill this week.
In a statement posted on its website, Tesla denounced the last-minute addition of wording to legislation in Missouri that would effectively ban the automaker from selling directly to consumers in the state.
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