According to a recent article in SubPrime News, regulations set forth by the Consumer Financial Protection Bureau that could lead to the elimination of dealer markups could result in unwanted outcomes for both dealers and their customers.
Damon Lester, president of the National Association of Minority Automobile Dealers, sent a letter to President Barack Obama last week, articulating three possible ramifications if federal regulations eventually lead to the elimination of dealer markups.
Lester outlined NAMAD's position in light of the Consumer Financial Protection Bureau sending out its guidance regarding indirect auto financing.
Damon Lester, president of the National Association of Minority Automobile Dealers, expresses the concerns of the organization and wants dealers to be aware of the possible effects of pending regulations set forth by the newly-formed Consumer Financial Protection Bureau concerning dealer markups. [Read more]The Article Dealer Markups Elimination Could Have Ramifications appeared first on Automotive Digest.