John Redding Quoted in Auto Finance News Article, "Congress Introduces Legislation Aimed at Rescinding CFPB Dealer Guidelines"John C. Redding
John Redding was quoted in Larissa Padden’s Auto Finance News article, “Congress Introduces Legislation Aimed at Rescinding CFPB Dealer Guidelines,” on April 20, 2015.
Representatives Frank Guinta (R-N.H.) and Ed Perlmutter (D-Colo.) introduced the Reforming CFPB Indirect Auto Financing Guidance Act of 2015, or H.R. 1737, last week.
“If passed, it will be interesting to see whether the CFPB continues the process of issuing guidance as it has in the past,” Redding said. “Given the requirement for public notice and comment, along with publication of information relied on in preparing the guidance. That said, given the CFPB’s stated goal of transparency, this would be a welcome change and consistent with that goal.”
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