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Customer Down Payments Stolen, CFPB Bill Moves Forward

May 9, 2018 0 Comments

This is your look at dealership news from all across the nation.

First off,  per DetroitFreePress Mary Barra, the CEO of General Motors has indicated that there should be “one national fuel economy standard.” In a statement, Barra said in part, ” A single, national standard would allow us to focus our resources on innovations that benefit our customers and society as we pursue our vision of a world with zero crashes, zero emissions and zero congestion.”

Next up, as NewsDay reported, Jose Quiroz, 31, a former employee at Kia Auto World out of East Meadow NY, has been arrested amidst allegations that he scammed customers out of their down payments. The indication is Quiroz worked in the finance department and reported pocketed $20,000 in customer down payments.

Finally, a Politico report indicated, the U.S. House of representatives has joined the senate in favor of eliminating the highly controversial 2013 CFPB auto lending guidance. Reports indicate President Trump is expected to sign off on the legislation, which would eliminate the five year-old regulatory guidance.

About the Author:

Dave Martinson is a broadcast journalist for DrivingSalesNews. He has a background as a TV News Reporter, Anchor and Producer. He has also worked in Digital Marketing and Human Resources. He received his bachelor’s degree in Communication from Brigham Young University – Idaho. He’s married and originally from the state of Washington. He’s a huge football fan and enjoys the outdoors.