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Top Stories
NADA: Brownback Amendment is 'Pro-Consumer and Keeps Auto Credit Affordable'
Senate Fails to End Wall Street Reform Debate
Car Dealers Make Final Push for Exemption
Senate to Vote on Measure to Ban Proprietary Trading
Should Auto Dealers Avoid New Regulation?
NADA, Broad Coalition Oppose Repeal of Leasing Liability Constraints in Safety Bill
U.S. House Recognizes Economic Contributions of Auto Dealers
Top Stories
NADA: Brownback Amendment is 'Pro-Consumer and Keeps Auto Credit Affordable'

The major trade associations representing the nation’s new-automobile dealers joined Sen. Sam Brownback, R-Kan., Wednesday on Capitol Hill rallying support for his amendment to the Wall Street reform bill which will keep auto financing accessible and affordable for car buyers. (Read more)
Source: NADAFrontPage.com

Editor's Note: NADA's Legislative Office is urging dealers to IMMEDIATELY contact their senators to ask them to vote for the Brownback amendment. Senators should be pushed for a straight “up or down” vote on the amendment as those in opposition are trying to stop a vote. Dealers should specifically point out that Sen. Brownback recently altered his amendment to promote better coordination between the military liaison to the proposed BCFP (created by the Reed-Brown amendment to S. 3217) and existing regulators to ensure the welfare of U.S. service members is effectively monitored. (Click here for latest military arguments rebuttal). Senator Brownback's amendment will keep vehicle financing available and affordable for car buyers. Senators can be reached through the Capitol switchboard at 202-224-3121. Visit www.NADA.org/Brownback for more information.

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Senate Fails to End Wall Street Reform Debate

The Senate failed Wednesday to end debate on legislation overhauling Wall Street, delaying a final vote on the measure. In a 57-42 vote, the Senate failed to pass a procedural motion that would have set up a final vote on the bill by the end of the week. (Read more)
Source: The Hill

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Car Dealers Make Final Push for Exemption

Owners go to Senate seeking to be excluded from bill for new consumer watchdog agency
WASHINGTON -- About 250 dealers were on Capitol Hill Wednesday, lobbying for an amendment to a broad overhaul of the nation's financial system. (Read more)
Source: The Detroit News

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Senate to Vote on Measure to Ban Proprietary Trading

WASHINGTON -- Sen. Jeff Merkley (D., Ore.) attached the controversial measure as a second-degree amendment to an already-pending financial-overhaul amendment by Sen. Sam Brownback (R., Kan.) to exempt auto dealers from a new consumer watchdog. (Read more)
Source: The Wall Street Journal

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Should Auto Dealers Avoid New Regulation?

Auto dealers have argued that they should be exempt from the new organization that is focused on the lending industry. Surprisingly, whether or not to subject auto dealers to new consumer protections has become one of the mostly hotly contested issues of the financial reform bill debate. (Read more)
Source: TIME

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NADA, Broad Coalition Oppose Repeal of Leasing Liability Constraints in Safety Bill

The House Energy and Commerce Subcommittee on Commerce, Trade and Consumer Protection is currently considering a repeal of the Graves amendment, the law which protects vehicle leasing and rental companies from being held liable for the negligent actions of drivers. (Read more)
Source: NADAFrontPage.com

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U.S. House Recognizes Economic Contributions of Auto Dealers

In a resolution introduced by Congressman Al Green, R-Texas, the U.S. House of Representatives on Wednesday recognized America's auto dealers and their "significant contributions" to their local communities and state economies. (Read more)
Source: Library of Congress

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Quotable
 
"Senators have a clear choice. Side with consumers to promote competition in auto financing or side with those who may have the best intentions – but whose proposal threatens to make it harder and more expensive for families to finance a vehicle."

    
-- NADA Chairman Ed Tonkin, at a press conference Wednesday rallying support for the Brownback amendment to the Wall Street reform bill, NADAFrontPage.com, May 19
Video Highlights
 

Dealers Unite on Brownback Amendment
(NADA-TV)


Sen. Brownback at May 19 News Conference
(NADA-TV)


Car Dealers and Wall Street Reform? (CNN)


NADA Chairman Says Dealers Are Not Banks (CBS Evening News) 


Sen. Brownback on Need to Exclude Auto Dealers from Financial Reform (C-SPAN)

NADA Marketplace
 

NADA University: 'We Build Champions'


 
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