F&I and Showroom, Industry Summit 2015
Regulatory Update 10 F I and Showroom Industry Summit 2015 Solving the CFPB Problem Since 2006 Andrew Koblenz has been on the frontlines of the National Automobile Dealers Association NADA s efforts to protect franchised new car dealers from regulatory overreach And he believes the tide may be turning in the Consumer Financial Protection Bureau CFPB s attack on dealership participation Koblenz joined the association in 1999 after serving as a senior attorney for the American Automobile Manufacturers Association Today he supervises a staff of six attorneys as the NADAs executive vice president of legal and regulatory affairs and general counsel F I and Showroom went one on one with Koblenz to find out where the industry stands in its fight with the CFPB F I I noticed your degree in political science Is it possible the man who is protecting the industry from regulatory overreach has political aspirations Koblenz My mother if she were still alive would tell you that I aspired to be a U S Senator in the third grade But that aspiration got replaced by a much more realistic one which was to play third base for the Boston Red Sox But seriously I do love debating and advocating on policy matters I am not as much of a political junkie which is why my position is more of a policy position than a political position F I Aside from the CFPB what else is keeping your team busy these days Koblenz Theres an awful lot of regulatory activity in D C that has nothing to do with the consumer credit world and we play a lot in that Theres tax Theres advertising Theres data security Theres fuel economy Theres safety recalls Theres silica dust and motor vehicle lift issues with the Occupational Safety and Health Administration There are concerns about leaking underground storage tanks There are Family Medical Leave Act issues So theres no lack of things to do Our regulatory affairs group has two functions First we advocate on behalf of dealers with the federal regulatory agencies Then once it becomes clear what the dealers obligations are we educate dealers about what the rules are and provide them with the tools that help them maintain compliance But let me talk about our regulatory advocacy efforts for a second Its different than legislative advocacy because youre dealing with unelected officials who like to get down into the details Congress passes broad policy directives but often leaves the actual operationalization of the laws to the regulatory agencies So the old saying The devil is in the The man who has led the NADAs regulatory advocacy efforts since 2006 believes the tide may be turning in the CFPBs attack on dealer participation By Gregory Arroyo
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