Providers and Administrators in blue logo
MenuMENU
SearchSEARCH

House Asks Senate to Exclude Auto Dealers from Oversight

June 22, 2010
2 min to read


WASHINGTON - House negotiators have proposed that the Senate agree to drop auto dealers from oversight of a proposed consumer watchdog agency, reported The Detroit News.


House and Senate negotiators have spent the last week working to craft a compromise overhaul of the nation's financial system.

Ad Loading...


One big issue of contention is whether the nation's 17,000 new car dealers should be subjected to oversight under a new Consumer Financial Protection Agency.


In a two-page proposal circulated by Rep. Barney Frank, D-Mass, chairman of the House Financial Services Committee, negotiators have asked the Senate to agree to exempt auto dealers from oversight -- bucking the White House.


Earlier this month, the Senate approved a non-binding resolution calling on its leaders to agree to the House language on auto dealers.


But the House in December voted to exempt dealers, and last week a group of 62 House Democrats urged party leaders to insist that auto dealers be exempted.


The House offer would exclude auto dealers -- asking the Senate to adopt their provision, which included dealers in their version.

Ad Loading...


"Main Street auto dealers commend Chairman Frank and House conferees for including language which preserves auto financing as an affordable option for car buyers in the House's offer to the Wall Street reform bill conference committee," said Bailey Wood, a spokesman for the National Automobile Dealers Association. "NADA strongly urges all conferees to accept the House's language regarding dealer-assisted financing."


The White House and the Pentagon strongly back regulating auto lending, saying it's necessary -- especially to protect young service members from exploitation from unscrupulous auto dealers. Auto dealers say lending is already heavily regulated.


Exempting auto dealers, President Barack Obama argued last month, "would allow them to inflate rates, insert hidden fees into the fine print of paperwork, and include expensive add-ons that catch purchasers by surprise."


An exemption, the president said, "guts provisions that empower consumers with clear information that allows them to make the financial decisions that work best for them."


The conference committee could see another attempt this week by Rep. Darrell Issa, R-Calif., who wants to bar companies that are owned or partially owned by the government from hiring outside lobbyists.

Ad Loading...


Issa's proposal to bar General Motors Co., Chrysler Group LLC and Ally Financial Inc. failed last week.

More Industry

Line graphic showing week-over-week wholesale auto price changes
Industryby StaffApril 22, 2026

Black Book: Weekly Market Update

Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.

Read More →
pavement with car and charger wrapped around it painted on
Industryby Lauren LawrenceApril 16, 2026

EV Battery Cycle Life at Risk

Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.

Read More →
Photo of exterior facade of Beardmore Chevrolet store
Industryby Hannah MitchellApril 14, 2026

Founding Family Sells Nebraska Dealerships

Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.

Read More →
Ad Loading...
Up-close photo of car battery
Industryby Hannah MitchellApril 13, 2026

Automaker Increases Parts Recycling

Stellantis is adding a third end-of-life vehicle dismantling facility to feed its growing reuse business sparked in large part by autos’ growing lifespans.

Read More →
Photo of white 2026 Ford Bronco on a sandy beach
Industryby Hannah MitchellApril 10, 2026

March New-Vehicle Sales Don’t Reflect War

Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.

Read More →
Photo from the rear of the XC60 SUV
IndustryApril 8, 2026

Volvo to Shift Some EV Production to U.S.

The automaker says its movement of some electric-vehicle work to the S.C. factory is part of a more tailored product focus. It also plans to add a new hybrid model to the plant’s itinerary.

Read More →
Ad Loading...
Bar graphic depicting week-over-week change across the various vehicle segments
Industryby StaffApril 7, 2026

Black Book: Weekly Market Update

Last week's wholesale automotive auction activity continued in a healthy mode, though buyers practiced selectivity.

Read More →
red car at a gas station being filled with gas. Efficiency Drives Demand. Providers and Administrators logo
Industryby Lauren LawrenceApril 7, 2026

Gas Prices Driving Consumer Interest

CarGurus’ first quarterly review of 2026 shows that affordability concerns are continuing to drive consumer purchases with a shift to more fuel-efficient options.

Read More →
Blurred photo of red car moving down a road
Industryby Hannah MitchellMarch 31, 2026

Automakers Have More Tricks Up Their Sleeves

JD Power analysts see auto retail faring this year’s storms well through various means, though it acknowledges conditions are challenging to accurately predict.

Read More →
Ad Loading...
background view of Washington D.C. with the capitol building and cherry trees. Text says 'What's the Cost?' with two diverging arrows and the Providers and Administrator's logo
Industryby Lauren LawrenceMarch 31, 2026

Insurance Rates Continue to Fall

Car insurance premiums have continued to decline so far this year, the overall national average settling at $138 per month in March, according to Insurify data.

Read More →