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In January 2020, the Consumer Financial Protection Bureau (CFPB) formed a Taskforce on Federal Consumer Financial Law to examine the existing legal and regulatory environment facing consumer and financial services providers, including those offering automotive financing. The CFPB is expected to release a report containing the Taskforce’s recommendations to...

Earlier this week, President Trump signed into law the $900 billion coronavirus relief bill that Congress passed on December 21. There are several items that are of particular interest to dealerships For instance, the bill clarifies that expenses paid for using Paycheck Protection Program (PPP) loan proceeds are tax...

The National Highway Traffic Safety Administration (NHTSA) announced a new rule in 2019 that set out minimum odometer security and authentication criteria. The rule also amended the “older vehicle” odometer disclosure exemption, which will impact dealers as of January 1, 2021. Starting January 1, dealers must provide odometer disclosures for any...

  On November 3, 2020, New Jersey voters approved...

Earlier this week, the New Jersey Legislature overwhelmingly approved a $11.5 billion tax incentive bill- NJ A4 (20R)- aimed at attracting businesses to New Jersey and preventing businesses from leaving the State. The $11.5 billion allocated in the bill revives the State’s tax incentive program, which lapsed 18 months...

After months of political posturing, the U.S. Senate and House of Representatives finally passed a $900 billion COVID-19 relief bill (The Consolidated Appropriations Act, 2021) providing $300 billion in aid for small businesses. NADA has provided a preliminary analysis of the bill focused on items  of most interest to...