PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

H.R. 1737: “Reforming CFPB Indirect Auto Financing Guidance Act”

By at 27 July, 2015, 11:52 am

UPDATE: On July 29, the House Financial Services Committee passed H.R. 1737 by a vote of 47-10.

 

The Honorable Frank Guinta

U.S. House of Representatives

Washington, DC  20515

 

Dear Representative Guinta:

The Small Business and Entrepreneurship Council (SBE Council) is pleased to support H.R. 1737, the “Reforming CFPB Indirect Auto Financing Guidance Act.”

This important piece of legislation repeals a Consumer Financial Protection Bureau (CFPB) automobile finance regulation and forces the CFPB to conduct business more transparently and make its regulations available for public review when it releases future automobile financing regulations.

Small firms and self-employed individuals across the industry are impacted by unnecessary auto financing regulations, which also impact small business owners who purchase and use vehicles to conduct business.

Thank you for your leadership on this important issue. SBE Council looks forward to working with you to advance H.R. 1737.

Sincerely,

Karen Kerrigan, President & CEO

 

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