Consumer Advocates and The Pentagon Call for all Auto Dealer-Lenders to be Covered by Consumer Watchdog.

The Military Coalition expressed opposition via letter to the Senate Banking Committee about exempting car dealers from the financial reform bill on April 15 2010. The Department of Defense wrote a similar letter in February 2010 because car dealers have abused servicemembers.

Car Lenders Must Be Covered by the CFPA.

In this legal brief CRL, joined by multiple allies, explains why National Banks regulated by the federal Office of Comptroller of the Currency must provide California borrowers with the notices mandated by California law when the borrower defaults on a car loan and the bank repossesses the car.

In a letter to the Treasury Department, the Department of Defense (DoD) announced its support for financial reform, including the creation of a Consumer Financial Protection Agency, to protect its service members and their families from predatory car dealers.

Auto dealers should not be exempt from the CFPA because of predatory financing practices like kickbacks or markups, yo yo scams, and car loan abuses targeted toward African Americans and low- to moderate-income consumers.

The car dealers trade association (NADA) wants exemption from the CFPA. In a sign-on letter CRL and other consumer groups urge House Financial Services Committee to include the car dealers within CFPA jurisdiction.

The Subcommittee on Commerce, Trade, and Consumer Protection held a legislative hearing on H.R. 2309, the Consumer Credit and Debt Protection Act.

Center for Responsible Lending research finds North Carolina consumers who rely on the dealer to finance their auto loans are vulnerable to a litany of predatory practices. Without fairness and transparency in the process of financing a vehicle, consumers are subject to manipulation that can add thousands of dollars to its cost.

CRL's amicus brief in support of a class of auto loan borrowers in Vallies v. Sky Bank. CRL, along with a number of consumer groups, argues that the Truth in Lending Act does not require borrowers to show detrimental reliance in order to receive actual damages for violations of the statute.