Under the financial overhaul bill before the House, auto dealers would not be regulated by a proposed Consumer Financial Protection Agency.
Consumer advocates want to change that. They argue the exemption means car buyers won't be protected against abusive auto loans originated by the dealers.
car buyersBill Exempts Auto Dealers From Agency OversightNPR Programs: Morning Edition Wed, 12/09/2009 - 8:00am
GM Lost $6 Billion Last QuarterDonklephant Thu, 05/07/2009 - 7:21am
Despite all the government assistance and talk of providing more, GM lost $6 billion last quarter with earnings dropping by 47%. GM executives say car buyers are turning away from GM out of concern the company will end up in bankruptcy and won’t honor its warranties. |
