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POLITICAL CLIMATE
EVENTS
CALENDAR President Makes Efforts to
Click to View Title & ETR
Training Class Schedule Trump CFPB Regulations
Click to View Pre-Licence By Peter Salinas, GIADA Industry Communications
Seminar Schedule
Title & ETR Training Class
Austell, GA
February 10
Automobile Dealer President Donald Trump signed an executive order on his first day in office suspending
Pre-License Seminar all proposed federal regulations until review by nominees of his new Administration. It is
Marietta, GA unclear whether this will affect regulations promoted by the Consumer Financial Protec-
tion Bureau (CFPB).
February 13
Hudson Cook, LLP, issued an email bulletin noting that the CFPB has regulations effecting
Automobile Dealer automotive retailers pending on arbitration, debt collection, and small dollar loans that
could be delayed. However, the agency’s director, Richard Cordray, has a term that will not
Pre-License Seminar end until 2018, and that cannot be changed by the President.
Macon, GA Hudson Cook points out that because there is no pending nominee or appointee to review
February 15 CFPB rules “(I)t is possible the Bureau could determine that the Executive Order does not
apply to its pending rules. Such a position, however, would undoubtedly put the Bureau
Title & ETR Training Class into conflict with the incoming Administration.”
Austell, GA Again on Jan. 23 in a meeting with corporate CEOs at a White House breakfast, Presi-
February 24 dent Trump reiterated his desire to reduce federal regulatory oversight in many areas of
the economy, health, environment, and safety. Trump noted that the federal regulatory
Automobile Dealer environment was “out of control,” and that regulations could be eased and significantly
reduced without harming people or the environment.
Pre-License Seminar
Marietta, GA Notification of the order was sent to the heads of federal executive department heads and
agencies via a memorandum from White House Chief of Staff Rience Priebus. He stated
February 25 the order exempted regulations identified by the Office of Management and Budget for
emergency situations or “other urgent circumstances relating to health, safety, financial, or
Automobile Dealer national security matters.”
Pre-License Seminar For automotive retailers already facing heavy regulation and the outstanding rules coming
Marietta, GA from the CFPB, the move signals a more business friendly environment. NIADA leader-
ship at both the national and state levels urges dealers to remain vigilant in the legal and
March 6 regulatory compliance efforts.
CBT Automotive “We favor transparency and full disclosure in all retail transactions with consumers,” said
Conference & Expo Georgia IADA Executive Director Paul John. “At the same time, we look for more com-
mon-sense regulations that do not put such a burden on dealers as to cut profitability and
Atlanta, GA decrease sales. Dealers, however, must adhere to the laws and regulations already in place,
March 7-9 at all levels of government.”
Click here to learn more. Shaun Petersen, NIADA senior vice president of legal and government affairs, said the
NIADA has lobbied in favor of the Financial Choice Act. This Act would give Congress
more direct oversight the CFPB and its director, who is a political appointee. n
GIADA Independent Auto Dealer FEBRUARY 2017 | 57
