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House Passes Legislation that Would Nullify CFPB Bulletin Regulating Car Dealers

WASHINGTON – The U.S. House of Representatives recently approved a piece of legislation that would nullify a 2013 bulletin issued by the Consumer Financial Protection Bureau, but would likely need the Senate to do the same by a veto-proof margin. The Reforming CFPB Indirect Auto Financing Guidance Act targets a bulletin that gave guidance on ... Read More »

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Provision in New Tax Bill May Benefit Dealers

WASHINGTON, D.C. — Congress recently passed the “Protecting Americans from Tax Hikes Act of 2015,” a $622 billion tax bill that will allow dealers and their customers to expense a larger portion of business equipment purchases, according to a release from the National Automobile Dealer Association. The NADA said the provisions included in the Act ... Read More »

FTC Calls on States to Lift Direct-to-Consumer Sales Bans

LANSING, Mich. — The debate over whether motor vehicle manufacturers should be allowed to sell directly to consumers in the state has resurfaced after last year’s passage of a law that added tighter restrictions on direct-to-consumer sales. This time, the Federal Trade Commission has weighed in. Reigniting the debate over direct-to-consumer sales of motor vehicles ... Read More »

Second Bill Aimed at Reining in the CFPB Passes House by 401-2 Vote

WASHINGTON, D.C. — On the same day Sen. Elizabeth Warren (D-Mass.) called on Congress to impose further reforms on the financial sector that go beyond the Dodd-Frank Act, the House of Representatives passed a bill that aims to bring greater transparency to the Dodd-Frank-created Consumer Financial Protection Bureau (CFPB). Speaking at the Levy Economics Institute’s ... Read More »

Ga. Legislators Table Tesla Bill

ATLANTA — A subcommittee of the House Motor Vehicles Committee voted March 4 to table House Bill 393, which would have allowed Tesla to continue selling its electric vehicles directly to Georgia’s residents. The state’s dealers were behind the move to freeze the bill, The Atlanta Journal-Constitution reports. Georgia law typically prohibits manufacturers from selling ... Read More »

President Once Again Takes Aim at Reinsurers

By: Gregory Arroyo For the sixth time, President Barack Obama is taking aim at reinsurers, including in his fiscal-year 2016 budget language that would end some of the tax benefits they enjoy. Market insiders, however, believe the administration’s latest attempt to tax foreign reinsurers will once again receive little support from members of Congress. In ... Read More »

Mich. Governor Signs ‘Anti-Tesla’ Bill

LANSING, Mich. — Michigan Governor Rick Snyder signed into law on Tuesday legislation that adds tighter restrictions on direct-to-consumer vehicle sales. The move effectively bans Tesla Motors from selling vehicles in the state. Introduced in May, House Bill 5606 originally focused on prohibiting auto manufacturers from dictating what fees a franchised dealer can charge customers. ... Read More »

Tesla Makes Strides on East Coast

House Committee Votes to Repeal CFPB Auto Lending Guidance

Congress Votes to End Dealer Paperwork Requirement