Financial Regulation Bill Excludes Auto Dealers

July 23, 2010
By Kevin Cafferty

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The sweeping financial reforms recently passed by Congress contained a fairly important exception. From the AP:

The House bill approved last December contained an exemption for auto dealers, among others, from lending regulations issued by the proposed consumer agency. The Senate did not, but the sentiment was there. In a 60-30 nonbinding vote last month, senators called for the auto dealer loophole.

What does this mean? Well, it's more important than ever that you know the details of your auto loan. A service such as MoneyAisle, which connects you to banks and credit unions willing to give you their best available rates, is more important than ever.

As a consumer, you're obligated to empower yourself. You're going to need the best weapons to do it. Think of MoneyAisle as one of those weapons.

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