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BHPH Dealers Should Expect Challenges,

Continued Regulatory Oversight in 2017

BY PETER SALINAS, GIADA INDUSTRY COMMUNICATIONS

Some BHPH dealers may be optimistic in Shaun Petersen, NIADA senior vice presi- that oversee the automotive retail industry,
thinking that the new Trump administra- dent of legal and government affairs, said state attorneys general would fill the void
tion will create a less stringent regulatory there has always been a need for consum- and step up enforcement at the state level.
environment for their segment of the auto- er protection and the agencies designed
motive retail industry. However, they bet- to provide that oversight, and the Federal Chuck Bonanno said that in addition to
ter wait before making the decision to put Trade Commission, the Consumer Finance maintaining vigilance in complying with
compliance on the back burner. Protection Bureau (CFPB) and others will federal and state regulations, there are
continue with their missions. other issues for dealers to consider for the
Legal and regulatory experts at the Na- good of their business in 2017.
tional Independent Automobile Dealers “While we support consumer protection
Association and those in the trenches with legislation and regulation, we are not op- He said that there will be 7.5 million off-lease
dealers, agree that federal oversight of the posed to a more common sense approach vehicles returning to the marketplace in 2017,
automobile retail industry in general, and that works for all involved,” Petersen said. and while that will have the affect of lowering
buy here-pay here specifically, is not going some used vehicle prices simply due to laws of
to go away regardless of who resides at 1600 Petersen added that even if the regulatory supply and demand, it may have some nega-
Pennsylvania Ave. muscle were removed from the agencies tive effects for BHPH dealers.

6 | GIADA Independent Auto Dealer FEBRUARY 2017