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Inside this issue
CFPB Promises Clarity on Discrimination; NADA Skeptical
U.S. Dealerships Should Consider Implications of New Canadian 'Anti-Spam' Legislation
GM Victim-Compensation Plan to be Released Monday
Senator Offers Auto Safety Overhaul, New $3 Car Fee
Chrysler Chief: June Sales Expected to Rise, Overall Industry Sales May be Flat
Infiniti, Mercedes Start Joint Engine Output in Tenn.
Dodge Celebrating 100th Anniversary Today
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
CFPB Promises Clarity on Discrimination; NADA Skeptical

The Consumer Financial Protection Bureau has promised to provide members of Congress with a white paper later this summer that will explain in more detail how it detects discrimination in auto loans. The bureau says it will issue the white paper in response to criticism from Congress, lenders and dealers that auto lenders don't have enough specifics on the CFPB's standards to police themselves.

Meanwhile, the National Automobile Dealers Association said ... that even if the CFPB white paper answers all questions about proxy methods, it almost certainly won't be enough to solve the problem of what NADA calls a lack of transparency by the CFPB. NADA said there are many additional questions, such as how the CFPB determines it is comparing rates for “similarly situated” borrowers. That is, borrowers who are similarly situated in terms of credit history or other factors that could affect the rate, and different only in terms of whether they belong to a protected class. NADA has encouraged its members to phone their representatives in Congress and ask them to co-sponsor a bill that would rescind the bureau's 2013 auto guidance and require more transparency before issuing future guidance. The bill also requires a public comment period and public access to documents supporting the guidance.
Source: Automotive News

Editor's note: Dealers can call their member of Congress at 202-224-3121 to ask them to cosponsor the Bureau Guidance Transparency Act (H.R. 4811). For more information, visit: www.NADA.org/CFPB.
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U.S. Dealerships Should Consider Implications of New Canadian 'Anti-Spam' Legislation

Beginning July 1, 2014, the new Canadian “anti-spam” legislation (CASL) will prohibit sending a commercial email, text or other electronic message to a Canadian recipient without prior express permission. In addition, the CASL requires any such messages to prominently identify the sender and include contact information, along with a way to unsubscribe. What is deemed to be a “commercial” email is broadly defined and the potential penalties are very large (up to $10,000,000). The requirements under the CASL are different and broader than those under the U.S. “CAN SPAM” law. In addition, the CASL applies not only to email, but also to text messages, and certain other electronic messages sent to Canadian email addresses, including those sent via social media, blogs, or other electronic communications platforms.

There are a number of exceptions as well as questions about the applicability of the new law to entities outside of Canada. However, U.S. dealers, especially dealers near Canada, or with a large number of Canadian customers, are encouraged to review the CASL and discuss it with their legal counsel. Click here for a detailed review of the CASL by the Canadian Auto Dealers Association, and work with your vendors and professional advisors to ensure that you are prepared for this new international requirement.
Source: NADA Legal and Regulatory Affairs
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GM Victim-Compensation Plan to be Released Monday

Ken Feinberg will disclose details of his plan to compensate victims of General Motors' defective ignition switch during a press conference on Monday, the attorney said [Thursday]. "I will be announcing my compensation program next Monday at 10 a.m. here in Washington," at the National Press Club, Feinberg wrote in an e-mail to Automotive News. GM hired the victim-compensation expert to determine which of the thousands of crashes that happen annually involving Chevrolet Cobalts, Saturn Ions and other cars covered by the ignition-switch recall were linked to the faulty part, and to decide how much to pay victims of those accidents.
Source: Automotive News

Editor's note: For more information on the GM recall, go to www.gmignitionupdate.com or www.safercar.gov.

Related Story:


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Senator Offers Auto Safety Overhaul, New $3 Car Fee

The chairman of the Senate Commerce Committee on Thursday introduced sweeping auto safety reform legislation and proposed a boost in safety staffing that would be funded by a first-ever new federal vehicle fee. Sen. Jay Rockefeller, D-W.Va., introduced the Motor Vehicle Safety Act of 2014 that would give the National Highway Traffic Safety Administration more funding to conduct more investigations and stronger powers to get unsafe vehicles off the road more quickly. It would boost funding for federal auto safety oversight by more than $100 million to $280 million by 2017.
Source: The Detroit News
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Chrysler Chief: June Sales Expected to Rise, Overall Industry Sales May be Flat

Chrysler Group LLC sales chief Reid Bigland said Thursday he expects the company's June sales will be up from the same month in 2013, while he predicts overall U.S industry sales to be flat or down as much as 2 percent. His estimate echoes analyst forecasts for the industry which range from a slight uptick of about 1 percent to declines of more than 3 percent from June 2013. Bigland, speaking to reporters during a media event at Chrysler's Chelsea Proving Grounds, said he expects Chrysler will hit 51 consecutive months of sales gains in June. But he said this month has fewer selling days than June 2013 and than May, which was a strong sales month.
Source: The Detroit News
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Infiniti, Mercedes Start Joint Engine Output in Tenn.

Infiniti began building its first engines outside of Japan [in Decherd, Tenn.] today in a new factory that represents the deepening ties between Nissan Motor Corp. and Daimler AG. The plant, separated from the large-volume Nissan powertrain factory next door, will produce turbocharged 2-liter four-cylinder engines for the Infiniti Q50 sedan as well as the C-class sedan that Mercedes-Benz recently launched in Vance, Ala. The $319 million engine plant represents a complex 50-50 venture between Renault-Nissan and Daimler that weaves together elements from around the world.
Source: Automotive News
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Dodge Celebrating 100th Anniversary Today

The Dodge brand is celebrating its 100th anniversary today at Meadowbrook Hall in Rochester [Mich.] in an invitation only event. Founded on July 1, 1914 by John F. and Horace E. Dodge, the company was purchased by Chrysler in 1928. Despite many ups and downs, Dodge has remained one of the most enduring brands in automotive history. Through the years nameplates such as the Dodge Caravan, Challenger, Charger, Dart, Viper. The Dodge brothers rolled their first Dodge out of the factory in November 1914. When the Dodge brothers died in 1920, they employed 22,000 workers and produced 140,000 automobiles per year, according to Dodgemotorcar.com. Today, more than two-dozen historic Dodge vehicles will be available for short test drives at Meadowbrook for invited guests.
Source: Detroit Free Press
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Quotable

"Eventually in the next two to three years, I think we’ll get back to a 17 million (annual sales mark) handily and then stabilize from there."   

    -- Reid Bigland, Chrysler Group LLC sales chief, commenting on auto sales, The Detroit News, June 26

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