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The Senate version of the financial reform act a noteworthy difference is whether the exclusion of automobile dealers new consumer protection agency oversight object. The House last December by releases including the exemption, but the Senate version of the terms in the removed.

Car loan is the most common United States besides residential mortgage loans, the largest individual loans, no wonder around the topic of struggle between the exception.

United States numerous industries, automobile dealer is one of the few organized one of the industry.

In the United States automobile dealers of chorus under the final version of the protest that could exclude automobile dealer. In addition to Washington in the United States Automobile Dealers Association Headquarters in strongly lobbying, individual members across the country are called or sent a letter to local members have asked the Senate to recover its plan.

De Chrysler CEN Verona city, Northern New Jersey is an old stores, franchised Chrysler has three generations. Informed reporters, the current boss Chris ・ CEN Decaux (Chris Decozen) that he has in his New Hampshire's petition letter signature. Chris at large daokushui: "we just sell cars. Consumers need a loan, we are but a middleman, introduce them to financial institutions. ”

Chris went on to complain that we can not the Wall Street Journal, the financial crisis we are victims, how can it be to us?

National Automobile Dealers Association spokesman Bailey ・ wood (Bailey Wood) in a telephone interview with reporters, said that the financial reform as the name implies, of course, should focus on Wall Street financial institutions, their making a financial crisis. Automobile dealers just can breath, we are not more stringent regulation. Many dealers margins, if pumped out auto loans in profits, is likely to become overwhelmed the camels of the last straw.

According to the Congressional Record Office, the National Automobile Dealers Association in 2009 and 2010 first quarter to lobby for the costs incurred $ 3 million. This money does not seem to have white flowers: May 24, the Senate passed a motion, it is recommended that members in the drafting of the final version to the exemption for automobile dealers. However it is not binding.

The automobile dealers and members of the game due to military intervention, become more complicated and confusing, the result is not until the last moment I cannot judge. United States military does not normally intervene in non-military agenda, but this time is a special case: because United States soldiers are usually young ignorance, often by unscrupulous auto dealer fraud to sign on their own very negative car loan, and thus against us military bases around the automobile dealer complaints remain high.

In a letter to Senate Banking Committee Chairman Christopher Dodd ・ (Christopher Dodd) letter, United States Secretary of the army ・ John McHugh (John McHugh) worry about soldiers because auto loans such troubles and unable to concentrate training operations and therefore strongly urged the retention of strict regulation of car loan terms.

Obama also strongly supported the strengthening of the supervision of the auto loan. He said in a televised speech "can't let the interest group lobbying efforts to weaken the financial reform."

If the final bill will include automobile dealers, Chris said it would mean to increase labour and training, consumers will have to fill in more forms, pay a higher price.