A failure to compromise – auto dealer regulation

Auto dealer regulation is on the minds of House Democrats of late, or more specifically a lack thereof. Their belief is that the newly formed Consumer Financial Protection Agency (CFPA) would hamper auto dealers' ability to recuperate by limiting their ability to continue offering dealer-assisted financing. Led by New York Reps. Bill Owens and Mike McMahon, the Democrats thought that they might have achieved an acceptable bipartisan compromise – until now. It was reported by Automotive News that an additional provision was surreptitiously inserted into the bill that would have actually expanded the CFPA's oversight over car dealers.