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NADA: Senate Vote Today Must Send Strong, Bipartisan Message to Keep Auto Financing Affordable
Opinion: Spare Dealers from Senate Bill
As Financial Overhaul Takes Shape, It's Crunch Time for Lobbyists
Auto Dealers Fight Additional Federal Regulation
Opinion: Washington Needs a Lesson in Car 101
Top Stories
NADA: Senate Vote Today Must Send Strong, Bipartisan Message to Keep Auto Financing Affordable

WASHINGTON – With a vote on the Brownback motion scheduled for 5 p.m. (eastern) today, NADA is urging dealers and their employees to make a last push to encourage senators to keep auto financing affordable and accessible for car buyers. “Today’s Senate vote must send a very strong and bipartisan message that additional rules and regulations will only make it harder and more expensive for people to finance a car,” said David Regan, NADA vice president for Legislative Affairs. “Senators must hear from their dealers back home that the Brownback motion is the pro-consumer option.” Regan added that the motion preserves existing consumer protections that effectively police dealer-assisted financing and that dealers should remind senators that all auto loans and all auto finance sources will be regulated under the financial services reform bill. “The stakes couldn't be higher for consumers and Main Street businesses, which had nothing to do with the financial meltdown,” Regan said. To overcome strong opposition from the White House and the Department of Defense, NADA's Legislative Office is encouraging dealerships to redouble their efforts in the final hours prior to the vote. Senators can be reached by phone through the Capitol switchboard at (202) 224-3121. More information can be found at www.NADA.org/Brownback.
Source: NADAFrontPage.com

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Opinion: Spare Dealers from Senate Bill

Struggling auto dealerships shouldn't be punished in Senate's push to regulate finance industry
With vehicle sales still wobbly, dealers and consumers don't need the financing of auto purchases to become more complex or uncertain. (Read more)
Source: The Detroit News

Editor's Note: This was the lead editorial from The Detroit News in the Sunday edition, published jointly with the Detroit Free Press.

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As Financial Overhaul Takes Shape, It's Crunch Time for Lobbyists

Banking and business lobbyists prepared a last-ditch effort Friday to scale back ambitious new regulations governing the financial industry, hoping to sway congressional leaders who are putting the finishing touches on the legislation. (Read more)
Source: The Los Angeles Times

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Auto Dealers Fight Additional Federal Regulation

As Congress starts crafting a final version of the financial overhaul bill, one major issue seems a long way from Wall Street: Whether auto dealerships should be exempted from oversight by a consumer protection agency that would be created by the legislation. (Read more)
Source: The Boston Globe

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Opinion: Washington Needs a Lesson in Car 101

Optimism usually grows on trees for dealers. But what's happening in Washington these days has even the most optimistic dealers doubting the system. (Read more)
Source: Automotive News

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Quotable
 
"The auto industry and its dealers are struggling as it is. They shouldn't have to cope with a complex new layer of regulation that is directed at a different segment of the finance industry -- the one that actually did cause the financial meltdown of 2008."

    -- The Detroit News, in the lead editorial published in Sunday's edition, May 23

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)

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