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January 25, 2017 FacebookTwitterFlickrRSSSEND TO A FRIENDPRINT
Inside this issue
Car Dealers' Group Centennial in New Orleans
3 Credit Bureaus Rebut Subprime ‘Bubble’ Talk Again to Open AFSA Event
Trump Dangles Incentives to Auto CEOs in Push to Lure Factories
Opinion: Reforming CFPB Isn't Enough. Eliminate It.
National Foundation for Teen Safe Driving to Launch Senior Promise 2017 at NADA Convention
Top Stories
Car Dealers' Group Centennial in New Orleans

NEW ORLEANS (AP) — The National Automobile Dealers Association is celebrating its centennial in New Orleans. The trade group was founded in 1917. Its four-day convention opens Thursday at the Morial Convention Center. A news release says the group expects 23,000 attendees, including car dealers from 36 countries, with 600 companies exhibiting. Dealers and their managers will attend franchise meetings and workshops and can shop the expo floor. This is the group's 12th convention in New Orleans since 1973. It last met in New Orleans three years ago. Its centennial celebration includes a party Thursday at Mardi Gras World.
Source: The Associated Press

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3 Credit Bureaus Rebut Subprime ‘Bubble’ Talk Again to Open AFSA Event

The American Financial Services Association made the decision not long before the holidays to add another special panel discussion to its Vehicle Finance Conference; a segment dedicated solely to the subprime segment and to assuage concerns of a “bubble.” In front of a standing-room only audience at the Sheraton New Orleans, a trio of experts from each of the three major credit bureaus to varying degrees all emphasized that there is no bubble, and the amount of subprime auto paper still outstanding is actually less than where it stood before the Great Recession.
Source: SubPrime Auto Finance News

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Trump Dangles Incentives to Auto CEOs in Push to Lure Factories

After months of heaping criticism on automakers for adding jobs overseas, President Donald Trump revealed a different side in his first White House sit-down with the industry’s top executives. Surrounded by the chief executives of General Motors Co., Fiat Chrysler Automobiles NV and Ford Motor Co., Trump laid out the incentives he’ll offer the companies to attract new plants in the U.S. “We’re bringing manufacturing back to the U.S.,” he said. “We’re reducing taxes, very substantially, and we’re reducing unnecessary regulations.”
Source: Bloomberg

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Opinion: Reforming CFPB Isn't Enough. Eliminate It.
By Ken Cuccinelli

The Consumer Financial Protection Bureau has a positive-sounding name. But in five and a half years since its creation, the CFPB has proven that the agency is merely an excuse for a massive expansion of federal regulatory power. The CFPB doesn’t protect consumers, as its name suggests. Rather, the American people need protection from the CFPB. It’s time to end this failed experiment. Let’s return the CFPB’s regulatory responsibilities to the specific departments and agencies covering the relevant industries, and of course, to the states that have been responsible for basic consumer protection for a long, long time. I should know. As a former attorney general of Virginia, I took my responsibility to protect consumers seriously.
Source: American Banker

Ken Cuccinelli is the general counsel to the FreedomWorks Regulatory Action Center and a former attorney general of Virginia.

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National Foundation for Teen Safe Driving to Launch Senior Promise 2017 at NADA Convention

New-car dealerships can sign up for the program at the Dealers Driving Road Safety booth (#2608) at the NADA Expo

Prom and graduation are exciting times for high school seniors. It can also be a dangerous time for teens, with seven of the top 10 deadliest driving days occurring between Memorial Day and Labor Day. To underscore this critical time, the National Foundation for Teen Safe Driving (NFTSD) is launching Senior Promise 2017 at the National Automobile Dealers Association (NADA) Convention and Expo in New Orleans, which runs from Jan. 26-29, 2017.
Source: NFTSD

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Past Articles
       
      Quotable
      "We're bringing manufacturing back to the U.S. We're reducing taxes, very substantially, and we're reducing unnecessary regulations."

          -- President Donald Trump, in comments at his first White House sit-down with the industry’s top automaker executives, Bloomberg, Jan. 23

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