Treasury?s Wolin: No Carveout for Auto Dealers on Consumer Protection Rules
Reserves Department Deputy Secretary Neal Wolin said Wednesday the administration would go to block any effort to exempt auto dealers from having to comply with new consumer protection rules. He said the administration has reiterated it would not allow consumer protection rules moving through Congress to be weakened and ?a carveout for auto dealers would be a paradigmatic example of such a weakening go.?
The House passed a bill in December that would exempt auto dealers from new consumer protection rules, but White House officials have said they would work to strip that provision out as the bill moves through the Senate.