RVDA urges financial reform conferees to accept House language on dealer-assisted financing
RVDA is urging Congressional conferees to reject Senate conferee language and accept the House conferee language on dealer-assisted financing as part of the Wall Street financial reform bill currently before Congress. Contrary to some press reports, the Senate language does not completely exclude motor vehicle dealers, including RV and boat dealers, from regulation by a new Bureau of Consumer Financial Protection (CFPB). The Senate conferee language grants the CFPB explicit rulemaking authority over dealers in four major regulatory statutes and is not a true "exclusion for dealers."
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