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U.S. Senate votes to undo consumer bureau's auto guidance

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - The U.S. Senate voted 51-47 on Wednesday in favour of a resolution undoing the Consumer Financial Protection Bureau's 2013 guidance restricting how car dealers extend auto loans to consumers, in the latest move to weaken the agency. The vote, to overturn the consumer watchdog's indirect auto-lending rule, was preceded by 10 hours of debate on the Senate floor on Tuesday. The resolution must be approved by the House of Representatives before being sent to President Donald Trump for his signature.The Senate's action on the resolution, which was introduced by Republican ...

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First Published: Thu, April 19 2018. 00:37 IST