Industry News

From Today’s NADA headlines

U.S. House Committee Approves Limit on CFPB's Oversight of Auto Lending

The U.S. House Financial Services Committee approved a bill Wednesday, 47-10, that would significantly limit the Consumer Financial Protection Bureau’s guidance over auto lending.
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Senate Passes Long-Term Highway Bill, Short-Term Extension

The Senate passed its long-term highway bill (HR 22) shortly after noon Thursday, and then agreed to a House-passed three-month extension (HR 3236) before completing work for the day.
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U.S. Auto Sales Headed Higher In July; So Are Prices

Forecasters expect a strong but not spectacular increase of about 3 to 4 percent in U.S. auto sales in July ...
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Top Issues

Latest NADA Initiatives

Bipartisan House Bill Seeks to Thwart CFPB's Attack on Auto Financing

NADA applauds the continued bipartisan efforts in Congress to rescind a flawed guidance from the Consumer Financial Protection Bureau (CFPB) that would harm consumers by limiting their ability to obtain discounted auto financing. Reps. Frank Guinta (R-N.H.) and Ed Perlmutter (D-Colo.) have introduced H.R. 1737, the Reforming CFPB Indirect Auto Financing Guidance Act of 2015. The legislation would repeal a CFPB bulletin from 2013 that was designed to pressure lending institutions into eliminating the availability of auto financing discounts. These discounts save consumers millions of dollars every year. With the CFPB's actions likely to raise the cost of credit for car buyers, Congress should pass H.R. 1737 to rescind the CFPB's flawed auto finance guidance and make the Bureau more transparent and accountable when issuing future auto finance guidance.

The Benefits of Franchised Auto Dealers

The current franchised new-car dealer model has benefited consumers, manufacturers and local communities for nearly a century. NADA's "Get the Facts" page sets the record straight about the benefits of the franchise system for consumers and local communities all over America.

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