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S. 2663 - Reforming CFPB Indirect Auto Financing Guidance Act

Finance and financial sector. 114th Congress (2015-2016) View bill details
Sponsor:
Summary:
A bill to nullify certain guidance of the Bureau of Consumer Financial Protection and to provide requirements for guidance issued by the Bureau with respect to indirect auto lending. (by CRS) 
Status:
The bill has been referred to committee. 
There have been no votes on this bill.

Reforming CFPB Indirect Auto Financing Guidance Act

S. 2663 — 114th Congress (2015–2016)

Summary
A bill to nullify certain guidance of the Bureau of Consumer Financial Protection and to provide requirements for guidance issued by the Bureau with respect to indirect auto lending. (by CRS)
Learn More
At OpenCongress
Title
A bill to nullify certain guidance of the Bureau of Consumer Financial Protection and to provide requirements for guidance issued by the Bureau with respect to indirect auto lending.
Other Titles
  • Reforming CFPB Indirect Auto Financing Guidance Act
  • Reforming CFPB Indirect Auto Financing Guidance Act
Sponsor
Jerry Moran
Co-Sponsors
    Subjects
    • Finance and financial sector
    • Administrative law and regulatory procedures
    • Banking and financial institutions regulation
    • Consumer affairs
    • Consumer credit
    • Consumer Financial Protection Bureau
    • Financial services and investments
    • Government information and archives
    • Government studies and investigations
    • Minority and disadvantaged businesses
    • Motor vehicles
    • Rural conditions and development
    • Small business
    • Veterans' education, employment, rehabilitation
    • Women in business
    Related Bills
    Major Actions
    Introduced3/10/2016
    Referred to Committee
    Bill History

    There have been no votes on this bill.

    ActionDateDescription
    Introduced3/10/2016
    3/10/2016Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
    3/10/2016Introduced in Senate
    4/07/2016Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-520.
    NumberSponsorDate OfferedStatus
    scale for bar graph of contributions

    Contributions

    1. November - December 2010 For $36,617 Against $1,650
    2. January - February 2011 For $105,900 Against $21,300
    3. March - April 2011 For $258,900 Against $34,350
    4. May - June 2011 For $311,800 Against $57,700
    5. July - August 2011 For $125,000 Against $24,900
    6. September - October 2011 For $214,700 Against $32,763
    7. November - December 2011 For $213,546 Against $52,150
    8. January - February 2012 For $125,673 Against $30,182
    9. March - April 2012 For $232,650 Against $37,532
    10. May - June 2012 For $318,229 Against $39,670
    11. July - August 2012 For $192,572 Against $33,916
    12. September - October 2012 For $450,497 Against $75,950
    13. November - December 2012 For $83,750 Against $6,250
    14. January - February 2013 For $108,870 Against $7,750
    15. March - April 2013 For $240,850 Against $42,100
    16. May - June 2013 For $306,520 Against $27,700
    17. July - August 2013 For $161,150 Against $17,358
    18. September - October 2013 For $289,250 Against $25,800
    19. November - December 2013 For $316,989 Against $9,300
    20. January - February 2014 For $173,080 Against $6,350
    21. March - April 2014 For $477,667 Against $24,490
    22. May - June 2014 For $514,695 Against $32,750
    23. July - August 2014 For $381,544 Against $26,250
    24. September - October 2014 For $585,100 Against $80,782
    25. November - December 2014 For $190,613 Against $27,173
    26. January - February 2015 For $137,304 Against $35,750
    27. March - April 2015 For $538,079 Against $56,335
    28. May - June 2015 For $341,449 Against $37,689
    29. July - August 2015 For $141,680 Against $5,086
    30. September - October 2015 For $294,246 Against $58,340
    31. November - December 2015 For $278,992 Against $50,500
    32. January - February 2016 For $195,240 Against $18,852
    33. March - April 2016 For $396,208 Against $21,229
    34. May - June 2016 For $633,288 Against $87,854
    35. July - August 2016 For $302,769 Against $14,192
    36. September - October 2016 For $357,695 Against $32,015
    37. November - December 2016 For $11,588 Against $11,880

    Votes

      9 Organizations Supported and 13 Opposed; See Which Ones
      9 Organizations Supported and 13 Opposed; See Which Ones

      Organizations that took a position on
      Reforming CFPB Indirect Auto Financing Guidance Act

      9 organizations supported this bill

      Alliance of Automobile Manufacturers
      Undersigned organizations (2016, July 19). Auto Manufacturers Support S. 2663. Retrieved July 20, 2016, from National Automobile Dealers Association.
      American Financial Services Association
      Undersigned organizations (2016, July 19). Auto Manufacturers Support S. 2663. Retrieved July 20, 2016, from National Automobile Dealers Association.
      American International Automobile Dealers Association
      American International Automobile Dealers Association (2016, May 1). SUPPORT REFORMING CFPB INDIRECT AUTO FINANCING GUIDANCE ACT. Retrieved May 12, 2016, from American International Automobile Dealers Association.
      Motorcycle Industry Council
      Undersigned organizations (2016, July 19). Auto Manufacturers Support S. 2663. Retrieved July 20, 2016, from National Automobile Dealers Association.
      National Auto Auction Association
      Undersigned organizations (2016, July 19). Auto Manufacturers Support S. 2663. Retrieved July 20, 2016, from National Automobile Dealers Association.
      National Automobile Dealers Association
      National Automobile Dealers Association (2016, March 11). NADA Praises Sen. Moran for Introducing Pro-Consumer Auto Finance Bill. Retrieved March 14, 2016, from National Automobile Dealers Association.
      National Independent Automobile Dealers Association
      Undersigned organizations (2016, July 19). Auto Manufacturers Support S. 2663. Retrieved July 20, 2016, from National Automobile Dealers Association.
      National RV Dealers Association
      Undersigned organizations (2016, July 19). Auto Manufacturers Support S. 2663. Retrieved July 20, 2016, from National Automobile Dealers Association.
      Recreation Vehicle Industry Association
      Undersigned organizations (2016, July 19). Auto Manufacturers Support S. 2663. Retrieved July 20, 2016, from National Automobile Dealers Association.

      13 organizations opposed this bill

      Americans for Financial Reform
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      Center for Digital Democracy
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      Center for Global Policy Solutions
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      Center for Responsible Lending
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      Consumer Action
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      Consumers for Auto Reliability and Safety
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      Consumers Union
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      Leadership Conference on Civil and Human Rights
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      National Association of Consumer Advocates
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      National Council of La Raza
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      National Fair Housing Alliance
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      U.S. PIRG
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.
      Woodstock Institute
      Undersigned organizations (2016, May 12). Letter to Congress: AFR, 20 Organizations Oppose Inclusion of Discriminatory Auto Lending Language in Appropriations Bill. Retrieved May 12, 2016, from Americans for Financial Reform.

      Need proof?

      View citations of support and opposition

      Includes reported contributions to congressional campaigns of Senators in office during the 114th U.S. Congress, from interest groups invested in the vote according to MapLight, November 29, 2010 – November 28, 2016.
      Contributions data source: OpenSecrets.org

      Add Data Filters:

      Contributions by Legislator

      Namesort iconPartyState$ From Interest Groups
      That Supported      		$ From Interest Groups
      That Opposed
      Andrew Lamar AlexanderRTN$96,400$7,200
      Kelly AyotteRNH$189,749$18,900
      Tammy BaldwinDWI$7,650$18,222
      John BarrassoRWY$45,850$1,000
      Michael F. BennetDCO$87,156$8,400
      Richard BlumenthalDCT$26,200$11,000
      Roy BluntRMO$257,783$93,380
      Cory A. BookerDNJ$117,999$61,600
      John BoozmanRAR$82,525$1,000
      Barbara BoxerDCA$0$2,500
      Sherrod BrownDOH$115,395$36,250
      Richard BurrRNC$140,250$8,000
      Maria CantwellDWA$8,000$8,222
      Shelley Moore CapitoRWV$235,849$9,000
      Ben CardinDMD$54,250$23,000
      Tom CarperDDE$116,200$2,450
      Bob CaseyDPA$35,950$27,963
      Bill CassidyRLA$244,000$3,649
      Daniel CoatsRIN$17,200$0
      William Thad CochranRMS$71,000$12,600
      Susan M. CollinsRME$68,050$1,500
      Christopher A. CoonsDDE$57,205$4,750
      Bob CorkerRTN$221,140$5,500
      John CornynRTX$207,170$0
      Tom CottonRAR$138,916$5,167
      Mike CrapoRID$172,200$0
      Ted CruzRTX$195,999$800
      Steve DainesRMT$178,000$0
      Joe DonnellyDIN$62,295$8,750
      Dick DurbinDIL$39,850$9,350
      Mike EnziRWY$33,000$0
      Joni ErnstRIA$44,046$0
      Dianne FeinsteinDCA$18,800$14,922
      Deb FischerRNE$82,650$0
      Jeff FlakeRAZ$139,097$0
      Al FrankenDMN$18,625$10,230
      Cory GardnerRCO$146,450$0
      Kirsten E. GillibrandDNY$99,700$19,957
      Lindsey GrahamRSC$122,150$2,500
      Chuck GrassleyRIA$50,480$300
      Orrin G. HatchRUT$102,000$18,550
      Martin HeinrichDNM$25,750$11,333
      Heidi HeitkampDND$35,500$3,972
      Dean HellerRNV$166,372$0
      Mazie K. HironoDHI$6,250$96,960
      John HoevenRND$33,550$500
      Jim InhofeROK$68,700$4,500
      Johnny IsaksonRGA$134,275$2,500
      Ron JohnsonRWI$170,750$5,050
      Tim KaineDVA$76,750$67,083
      Angus S. King, Jr.IME$21,500$1,500
      Mark KirkRIL$123,575$9,300
      Amy KlobucharDMN$58,450$4,722
      James LankfordROK$110,230$16,900
      Patrick J. LeahyDVT$8,320$6,050
      Mike LeeRUT$209,375$0
      Joe Manchin, IIIDWV$44,250$0
      Ed MarkeyDMA$28,850$23,525
      John McCainRAZ$88,050$39,363
      Claire McCaskillDMO$74,762$27,622
      Addison "Mitch" McConnellRKY$443,700$20,200
      Bob MenéndezDNJ$81,600$52,000
      Jeff MerkleyDOR$19,500$500
      Barbara A. MikulskiDMD$1,000$1,000
      Jerry MoranRKS$106,499$17,650
      Lisa MurkowskiRAK$41,900$3,500
      Chris MurphyDCT$55,976$4,950
      Patty MurrayDWA$68,024$32,422
      Clarence "Bill" NelsonDFL$99,967$4,350
      Rand PaulRKY$85,777$0
      David PerdueRGA$121,150$0
      Gary C. PetersDMI$228,322$28,200
      Rob PortmanROH$344,645$8,640
      John "Jack" ReedDRI$29,500$1,000
      Harry ReidDNV$23,900$3,000
      Jim RischRID$28,500$0
      Charles "Pat" RobertsRKS$73,000$4,439
      Mike RoundsRSD$88,322$0
      Marco RubioRFL$227,758$7,250
      Bernie SandersIVT$0$2,300
      Ben SasseRNE$45,600$0
      Brian SchatzDHI$52,085$3,525
      Chuck SchumerDNY$260,600$31,899
      Tim ScottRSC$259,018$6,000
      Jeff SessionsRAL$20,000$0
      Jeanne ShaheenDNH$70,300$33,640
      Richard C. ShelbyRAL$113,200$0
      Debbie StabenowDMI$94,500$14,610
      Dan SullivanRAK$62,050$1,000
      Jon TesterDMT$147,650$9,350
      John ThuneRSD$121,108$4,200
      Thom TillisRNC$225,071$0
      Patrick J. ToomeyRPA$282,191$40,721
      Tom UdallDNM$14,650$6,100
      David VitterRLA$43,750$0
      Mark R. WarnerDVA$272,749$13,150
      Elizabeth WarrenDMA$11,500$50,200
      Sheldon WhitehouseDRI$2,500$2,500
      Roger F. WickerRMS$51,400$1,000
      Ron WydenDOR$93,250$19,050

      Add Data Filters:

      Legislator Filters
      Legislator Filters
      Uncheck All
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      		NamePartyState$ From Interest Groups
      That Supported      		$ From Interest Groups
      That Opposed
      		Andrew Lamar AlexanderRTN$96,400$7,200
      		Kelly AyotteRNH$189,749$18,900
      		Tammy BaldwinDWI$7,650$18,222
      		John BarrassoRWY$45,850$1,000
      		Michael F. BennetDCO$87,156$8,400
      		Richard BlumenthalDCT$26,200$11,000
      		Roy BluntRMO$257,783$93,380
      		Cory A. BookerDNJ$117,999$61,600
      		John BoozmanRAR$82,525$1,000
      		Barbara BoxerDCA$0$2,500
      		Sherrod BrownDOH$115,395$36,250
      		Richard BurrRNC$140,250$8,000
      		Maria CantwellDWA$8,000$8,222
      		Shelley Moore CapitoRWV$235,849$9,000
      		Ben CardinDMD$54,250$23,000
      		Tom CarperDDE$116,200$2,450
      		Bob CaseyDPA$35,950$27,963
      		Bill CassidyRLA$244,000$3,649
      		Daniel CoatsRIN$17,200$0
      		William Thad CochranRMS$71,000$12,600
      		Susan M. CollinsRME$68,050$1,500
      		Christopher A. CoonsDDE$57,205$4,750
      		Bob CorkerRTN$221,140$5,500
      		John CornynRTX$207,170$0
      		Tom CottonRAR$138,916$5,167
      		Mike CrapoRID$172,200$0
      		Ted CruzRTX$195,999$800
      		Steve DainesRMT$178,000$0
      		Joe DonnellyDIN$62,295$8,750
      		Dick DurbinDIL$39,850$9,350
      		Mike EnziRWY$33,000$0
      		Joni ErnstRIA$44,046$0
      		Dianne FeinsteinDCA$18,800$14,922
      		Deb FischerRNE$82,650$0
      		Jeff FlakeRAZ$139,097$0
      		Al FrankenDMN$18,625$10,230
      		Cory GardnerRCO$146,450$0
      		Kirsten E. GillibrandDNY$99,700$19,957
      		Lindsey GrahamRSC$122,150$2,500
      		Chuck GrassleyRIA$50,480$300
      		Orrin G. HatchRUT$102,000$18,550
      		Martin HeinrichDNM$25,750$11,333
      		Heidi HeitkampDND$35,500$3,972
      		Dean HellerRNV$166,372$0
      		Mazie K. HironoDHI$6,250$96,960
      		John HoevenRND$33,550$500
      		Jim InhofeROK$68,700$4,500
      		Johnny IsaksonRGA$134,275$2,500
      		Ron JohnsonRWI$170,750$5,050
      		Tim KaineDVA$76,750$67,083
      		Angus S. King, Jr.IME$21,500$1,500
      		Mark KirkRIL$123,575$9,300
      		Amy KlobucharDMN$58,450$4,722
      		James LankfordROK$110,230$16,900
      		Patrick J. LeahyDVT$8,320$6,050
      		Mike LeeRUT$209,375$0
      		Joe Manchin, IIIDWV$44,250$0
      		Ed MarkeyDMA$28,850$23,525
      		John McCainRAZ$88,050$39,363
      		Claire McCaskillDMO$74,762$27,622
      		Addison "Mitch" McConnellRKY$443,700$20,200
      		Bob MenéndezDNJ$81,600$52,000
      		Jeff MerkleyDOR$19,500$500
      		Barbara A. MikulskiDMD$1,000$1,000
      		Jerry MoranRKS$106,499$17,650
      		Lisa MurkowskiRAK$41,900$3,500
      		Chris MurphyDCT$55,976$4,950
      		Patty MurrayDWA$68,024$32,422
      		Clarence "Bill" NelsonDFL$99,967$4,350
      		Rand PaulRKY$85,777$0
      		David PerdueRGA$121,150$0
      		Gary C. PetersDMI$228,322$28,200
      		Rob PortmanROH$344,645$8,640
      		John "Jack" ReedDRI$29,500$1,000
      		Harry ReidDNV$23,900$3,000
      		Jim RischRID$28,500$0
      		Charles "Pat" RobertsRKS$73,000$4,439
      		Mike RoundsRSD$88,322$0
      		Marco RubioRFL$227,758$7,250
      		Bernie SandersIVT$0$2,300
      		Ben SasseRNE$45,600$0
      		Brian SchatzDHI$52,085$3,525
      		Chuck SchumerDNY$260,600$31,899
      		Tim ScottRSC$259,018$6,000
      		Jeff SessionsRAL$20,000$0
      		Jeanne ShaheenDNH$70,300$33,640
      		Richard C. ShelbyRAL$113,200$0
      		Debbie StabenowDMI$94,500$14,610
      		Dan SullivanRAK$62,050$1,000
      		Jon TesterDMT$147,650$9,350
      		John ThuneRSD$121,108$4,200
      		Thom TillisRNC$225,071$0
      		Patrick J. ToomeyRPA$282,191$40,721
      		Tom UdallDNM$14,650$6,100
      		David VitterRLA$43,750$0
      		Mark R. WarnerDVA$272,749$13,150
      		Elizabeth WarrenDMA$11,500$50,200
      		Sheldon WhitehouseDRI$2,500$2,500
      		Roger F. WickerRMS$51,400$1,000
      		Ron WydenDOR$93,250$19,050

      Interest Groups that supported this bill

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      		$ Donated
      		Credit agencies & finance companies$3,817,667
      		Auto dealers, new & used$3,152,488
      		Auto dealers, foreign imports$1,368,439
      		Auto manufacturers$1,351,111
      		Motorcycles, snowmobiles & other motorized vehicle$319,005
      		Recreational transport$19,140
      		Motor homes & camper trailers$16,850

      Interest Groups that opposed this bill

      Uncheck All
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      		$ Donated
      		Minority/Ethnic Groups$612,336
      		Health & welfare policy$547,752
      		Human Rights$45,000
      		Consumer groups$750
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