Auto Dealer Regulation Post DoddFrank Americans for Financial
![Auto Dealer Regulation Post. Dodd/Frank Americans for Financial Reform Field Webinar http: //www. responsiblelending. Auto Dealer Regulation Post. Dodd/Frank Americans for Financial Reform Field Webinar http: //www. responsiblelending.](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-1.jpg)
![Dealer Regulation § FTC retains regulatory authority over dealers § Streamlined regulatory authority § Dealer Regulation § FTC retains regulatory authority over dealers § Streamlined regulatory authority §](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-2.jpg)
![Dealer Regulation § CFPB has rulemaking authority under consumer financial laws and to prevent Dealer Regulation § CFPB has rulemaking authority under consumer financial laws and to prevent](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-3.jpg)
![Dealer Regulation § Takes most franchise dealers out (those with service departments), leaves independents Dealer Regulation § Takes most franchise dealers out (those with service departments), leaves independents](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-4.jpg)
![Contact Information Chris Kukla Senior Vice President Center for Responsible Lending chris. kukla@responsiblelending. org Contact Information Chris Kukla Senior Vice President Center for Responsible Lending chris. kukla@responsiblelending. org](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-5.jpg)
- Slides: 5
![Auto Dealer Regulation Post DoddFrank Americans for Financial Reform Field Webinar http www responsiblelending Auto Dealer Regulation Post. Dodd/Frank Americans for Financial Reform Field Webinar http: //www. responsiblelending.](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-1.jpg)
Auto Dealer Regulation Post. Dodd/Frank Americans for Financial Reform Field Webinar http: //www. responsiblelending. org
![Dealer Regulation FTC retains regulatory authority over dealers Streamlined regulatory authority Dealer Regulation § FTC retains regulatory authority over dealers § Streamlined regulatory authority §](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-2.jpg)
Dealer Regulation § FTC retains regulatory authority over dealers § Streamlined regulatory authority § Enforcement power § FTC can regulate markups and yo-yo’s as dealer conduct § FTC has already taken enforcement action against: § Pay off your trade in no matter what scams § Car loan modification scams § FTC Roundtables http: //www. responsiblelending. org 2
![Dealer Regulation CFPB has rulemaking authority under consumer financial laws and to prevent Dealer Regulation § CFPB has rulemaking authority under consumer financial laws and to prevent](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-3.jpg)
Dealer Regulation § CFPB has rulemaking authority under consumer financial laws and to prevent unfair, deceptive or abusive acts. § Dodd-Frank included exemption for franchise car dealers and larger independent dealers. § Exclusion: Car dealers that primarily engage in the sale or lease of vehicles to consumers AND service of vehicles AND routinely assign finance contracts to unaffiliated third parties are exempt. § Takes most franchise dealers out (those with service departments), leaves independents without service department and Buy Here-Pay Here lots in. http: //www. responsiblelending. org 3
![Dealer Regulation Takes most franchise dealers out those with service departments leaves independents Dealer Regulation § Takes most franchise dealers out (those with service departments), leaves independents](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-4.jpg)
Dealer Regulation § Takes most franchise dealers out (those with service departments), leaves independents without service department and Buy Here-Pay Here lots in. § CFPB also has authority over the lenders that buy installment contracts from dealers. § § Dealer markup Conditional financing – TILA implications ECOA/Fair Lending Military Impact http: //www. responsiblelending. org 4
![Contact Information Chris Kukla Senior Vice President Center for Responsible Lending chris kuklaresponsiblelending org Contact Information Chris Kukla Senior Vice President Center for Responsible Lending chris. kukla@responsiblelending. org](https://slidetodoc.com/presentation_image_h2/61455218e5018f558f13b0a371841a29/image-5.jpg)
Contact Information Chris Kukla Senior Vice President Center for Responsible Lending chris. kukla@responsiblelending. org www. responsiblelending. org http: //www. responsiblelending. org 5