May 22, 2018

Freedom Partners Applauds Trump’s Signature of Bill Scrapping Costly Auto Lending Restriction

Post by Freedom Partners

Arlington, VA – Freedom Partners is commending President Donald Trump for signing S.J. Res. 57, which utilizes the Congressional Review Act (CRA) to repeal a controversial policy adopted in 2013 by the Consumer Financial Protection Bureau to limit auto lending arrangements.

 

Freedom Partners Executive Vice President Nathan Nascimento issued the following statement:

 

“One-size-fits-all restrictions rarely benefit businesses and consumers, and the CFPB’s policy limiting auto lending demonstrated why this is so often the case. Under the CFPB’s ruling, auto dealers and their customers had fewer financing options and loans became more expensive. It is the perfect example of how burdensome regulations and policies that claim to protect consumers can often have the opposite impact. We applaud Congress for utilizing the Congressional Review Act to end this regulatory abuse and President Trump for following through with his signature.”

 

A major priority for Freedom Partners is rolling back excessive federal regulations which undermine economic growth and prosperity.

 

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FREEDOM PARTNERS, HEADQUARTERED IN ARLINGTON, VIRGINIA IS A NONPROFIT, NONPARTISAN, 501(C)(6) CHAMBER OF COMMERCE THAT PROMOTES THE BENEFITS OF FREE MARKETS AND A FREE SOCIETY.