Summary of Amendments Submitted to the Rules Committee for H.R. 1737 - Reforming CFPB Indirect Auto Financing Guidance Act
Summaries Derived from Information Provided by Sponsors
Listed in Alphabetical Order
Nov 16, 2015 10:03 AM
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Ensures that the costs and impacts to any veteran-owned business are included in the study required by this bill for any future auto financing guidance put forth by the Consumer Financial Protection Bureau. |
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Directs the Director of the CFPB, in consultation with the Financial Literacy and Education Commission, to develop and implement a financial literacy program with respect to the purchase of a motor vehicle through the use of financing. |
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Clarifies that nothing in this bill shall be construed to apply to guidance issued by the Bureau of Consumer Financial Protection that is not primarily related to indirect auto financing. |
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Requires that CFPB, before issuing guidance on indirect auto financing, should also conduct a study on the cost and impacts such guidance to rural consumers and businesses. |