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Senate Recommends Brownback Auto Lending Exemption

The Senate just voted to recommend that its conferees working to reconcile the House and Senate financial regulatory reform bills include Sen. Sam Brownback’s

Jul 31, 2020
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The Senate just voted to recommend that its conferees working to reconcile the House and Senate financial regulatory reform bills include Sen. Sam Brownback’s (R-Kans.) language exempting auto dealers that make loans from Consumer Financial Protection Agency oversight. The nonbinding motion was agreed to by a surprisingly high margin, 60 to 30. Still, due to strong White House and Defense Department opposition — not to mention the sheer size of the auto lending market and the incidence of abusive lending practices at some dealerships — it is not expected to make it into the final bill.
Hajra Shannon

Hajra Shannon

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Hajra Shannona is a highly experienced journalist with over 9 years of expertise in news writing, investigative reporting, and political analysis. She holds a Bachelor's degree in Journalism from Columbia University and has contributed to reputable publications focusing on global affairs, human rights, and environmental sustainability. Hajra's authoritative voice and trustworthy reporting reflect her commitment to delivering insightful news content. Beyond journalism, she enjoys exploring new cultures through travel and pursuing outdoor photography
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