Repealing an Obama-Era Rule that Harms Indirect Auto Lending
2018 - U.S. Senate
Conservatives Support
Description
This resolution invokes the Congressional Review Act to overturn an overreaching Obama administration rule that limited the ability of auto dealers to offer discounted-rate auto loans to customers. Specifically, the rule related to indirect auto lending and compliance with the Equal Credit Opportunity Act. ACU supports the overturning of this Obama-era regulation that has stifled the free market and increased the cost of auto loans and supported this resolution. The Senate passed the resolution on April 18, 2018 by a vote of 51-47. (A "Yes" vote supported the ACU Position.)