Latest NADA Initiatives
Support H.R. 1737 in Advance of Vote on the House Floor
NADA continues to strongly support H.R. 1737, the bipartisan bill in Congress that rescinds the flawed Consumer Financial Protection Bureau (CFPB) guidance that threatens to eliminate a dealer's flexibility to discount auto loans in the showroom. The CFPB is attempting to change the $907 billion auto loan market and limit market competition without prior public comment and without analyzing the impact of its guidance on consumers. Since the CFPB's actions will likely raise the cost of credit for car buyers, Congress should pass H.R. 1737, which would rescind the CFPB's flawed auto finance guidance, and make the Bureau more transparent and accountable when issuing future auto finance guidance.
Since Reps. Frank Guinta (R-N.H.) and Ed Perlmutter (D-Colo.) introduced H.R. 1737, it has garnered 166 cosponsors (102 R, 64 D) and passed the House Financial Services Committee by a bipartisan vote of 47-10. NADA urges Members of Congress to cosponsor H.R. 1737 and support H.R. 1737 when it comes to the floor for a vote.
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.