Blue Dogs Back Maintaining Affordable Auto Credit for Consumers
WASHINGTON – The Blue Dog Coalition overwhelmingly supports H.R. 1737, the Reforming the CFBP Indirect Auto Financing Guidance Act. The bill seeks to fix a problematic Consumer Financial Protection Bureau (CFPB) policy that would make it difficult for auto dealers to discount interest rates for their customers. As most consumers obtain financing credit through their car dealers, this policy could decrease competition and increase costs, hurting, rather than helping, consumers.