Industry News

From Today’s NADA headlines

Important Update on Blumenthal Used Car Recall Amendment

Sen. Richard Blumenthal (D-Conn.) has officially filed a controversial amendment to prohibit dealers from selling, or even wholesaling, a used vehicle under open recall.
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Commentary: Blumenthal Proposal Would Deflate Value of Customer Trade-Ins

Imagine what would happen if dealers could only offer a fraction for their customer’s trade-ins, or could not even send the trade-in vehicle to auction.
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CFPB Rejects FOIA Request for Memo on 'Limiting Dealer Discretion'

The Consumer Financial Protection Bureau (CFPB) has rejected a Freedom of Information Act (FOIA) request by the National Automobile Dealers Association (NADA) ...
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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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