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Tuesday, April 27, 2010 RSSSEND TO A FRIENDPRINT
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Top Stories
Dealers Head to the Hill to Lobby for Exemption from Financial Overhaul
Auto Dealers Tell Senators: 'Wall Street Reform Bill Hurts Consumers, Local Dealerships and Economic Recovery'
Senate to Vote Again Today on Financial Overhaul Bill
Off Wall St., Worries About Financial Bill
ABA: Consumer Loan Delinquencies Drop in Eight Categories
Top Stories
Dealers Head to the Hill to Lobby for Exemption from Financial Overhaul

WASHINGTON – More than 100 auto dealers fanned out across Capitol Hill today to lobby to win an exclusion from the financial reform bill in the Senate, fighting a strict line from the Obama administration that their lending should fall under new oversight. (Read more)
Source: Detroit Free Press

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Auto Dealers Tell Senators: 'Wall Street Reform Bill Hurts Consumers, Local Dealerships and Economic Recovery'

WASHINGTON -- More than 100 new-car dealers are in Washington today to take a message directly to their Senators: Over-regulating auto dealers, imposing new fees and other burdens will have "unintended consequences" of curbing access to credit for middle-class families that need to buy a car or truck to get to work. (Read more)
Source: NADAFrontPage.com

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Senate to Vote Again Today on Financial Overhaul Bill

The U.S. Senate will take a second vote today on an effort by Democrats to overcome Republican objections and begin debate on financial overhaul legislation. (Read more)
Source: Bloomberg 

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Off Wall St., Worries About Financial Bill

Far afield from Wall Street, the intense debate over the overhaul of financial regulations by Congress is attracting some unlikely but powerful players. (Read more)
Source: The New York Times

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ABA: Consumer Loan Delinquencies Drop in Eight Categories

WASHINGTON -- In a positive sign for the economy, the number of consumers who were delinquent on their loans fell in eight of 11 loan categories in the fourth quarter of 2009, according to the American Bankers Association on Wednesday. (Read more)
Source: MarketWatch

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Quotable
 
"Auto dealers did not cause this financial crisis. It seems ridiculous that we should even be talking about regulating them like banks."

    -- Sen. Sam Brownback, sponsor of an amendment to the financial reform bill that would exempt auto dealers from oversight, Dow Jones Newswires, April 27


"Shouldn't the Wall Street reform bill focus on those who were responsible for last year's credit fiasco? We were the victims of that crisis ..."

    -- NADA Chairman Ed Tonkin, who is on Capitol Hill today to tell senators that over-regulating auto dealers will have "unintended consequences" of curbing access to credit for middle-class families, NADAFrontPage.com, April 27


“They are painting all of us as unpatriotic, and that is just wrong. Auto dealers go out of their way for veterans.”

    -- Ray Ciccolo, a dealer from Boston and Marine veteran, responding to efforts by the Department of Defense to include dealers in sweeping financial reform, Detroit Free Press, April 27


“I don’t think the level of concern could be any higher. There’s a sense of urgency. And we’ve got to raise awareness about why this doesn’t make sense and why it’s anticonsumer.”

    --  David Hyatt, NADA vice president for public affairs, on dealers' efforts this week to seek an exemption from financial legislation, The New York Times, April 27

Video Highlights
 

NADA Chairman Ed Tonkin on the Brownback Amendment to Financial Overhaul Bill


NADA University: 'We Build Champions'


NADA Launches New Online Magazine 

NADA Marketplace 
 
 
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