Gregory Arroyo
Editorial Director
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F&I tracks the rise and fall of the Consumer Financial Protection Bureau’s aggressive but ultimately futile five-year assault on dealer participation.
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The dream of owning a new vehicle is becoming more elusive for the average American consumer, with the average amount financed and monthly payment for a new vehicle climbing to record highs of $31,455 and $523, respectively.
Read More →With the CFPB’s controversial guidance officially repealed, the editor delves into what the bureau was really after in its targeting of dealer participation.
Read More →The president’s signature comes exactly five years and two months after the bureau put the auto finance industry on notice with its controversial guidance on dealer rate markups.
Read More →As expected, the House approved the resolution of disapproval of the CFPB's guidance on dealer participation. With the Senate having voted on the resolution last month, all that's left to rescind the controversial guidance is President Trump's signature.
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Digital retailing invaded the Las Vegas Convention Center in late March for NADA 2018, but its arrival did little to bring clarity to F&I’s cloudy future.
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The editor opens up about his first service-contract claim, which resulted in a covered and repaired vehicle as well as a few lessons.
Read More →The Federal Reserve voted unanimously to maintain the target range for the federal funds rate at 1.5% and 1.75%, but it hinted at a possible rate hike in June.
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New legislation aimed at strengthening dealer protections under California’s franchise laws will have its first committee hearing on Monday. One of its provisions specifically addresses the disclosure policy General Motors issued last summer regarding the sale of non-GM service contracts.
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Today’s vote leaves it up to the House of Representatives to pass its version of the joint resolution of disapproval. Once that happens, only the president’s signature stands in the way of the industry’s more than five-year campaign to get the CFPB’s controversial guidance repealed.
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