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Industry lenders gather with NADA to review RouteOne program

November 23, 2010
BY RAY SCARPELLI NADA DIRECTOR, METRO CHICAGO

The NADA's Industry Relations team met with RouteOne President and CEO Mike Jurecki and other officials of the credit application aggregate owned by GMAC, Ford Motor Credit, DaimlerChrysler Services and Toyota Financial Services. RouteOne representatives provided an update on their activities and laid out the timeline the joint venture has established for its product launch. The NADA reps gave a dealer perspective on the RouteOne offerings and stressed the importance of encouraging competition and minimizing recurring dealer charges. In Washington, the Senate Energy and Natural Resources Committee defeated an amendment to significantly increase light-truck CAFÉ standards. The amendment would have required by 2011 a light-truck standard of 27.5 miles per gallon, equaling the current standard for passenger cars. Now, the light-truck standard for pickups, SUVs, and minivans is 20.7 mpg, and the National Highway Traffic Safety Administration recently raised the standard to 22.2 mpg by 2007. Earlier, the House Energy and Commerce Committee defeated an amendment to the energy bill that would have mandated a reduction in oil used to fuel cars and trucks, and possibly a CAFE standard of 36 mpg. In the House, the leadership has scheduled a vote on H.R. 57, an NADA-backed bill that would permanently repeal the Estate Tax. The bill was scheduled to come to the floor last week. It is anticipated that there are enough votes for passage, but the NADA's Legislative office is working closely with the House leadership to identify representatives who are undecided on the bill and may need attention. If you are asked to contact one of these members in the next few days, we would appreciate your prompt response. The bankruptcy reform bill (H.R. 975) passed the by House includes an NADA provision that would extend the time period, from 20 days to 30 days, that dealers have to perfect their liens. Efforts are underway to bring the bill to the Senate floor. The association's Regulatory Affairs department is monitoring nearly 80 regulations at 15 federal agencies and there some deadlines that deserve your attention. ??By Aug. 17, dealerships with above-ground storage capacity of more than 1,320 gallons of used or new oil, fuel, automatic transmission or other EPA-regulated substances must hire a professional engineer to draft amendments to their Spill Prevention, and Control and Countermeasure plans. The enforcement deadline of the EPA rule has accelerated to Feb. 18, 2005. Responding to comments from the NADA and others, the EPA dropped the 660 gallon-pertank threshold. ??April 14, 2004, is the deadline to comply with a U.S. Department of Health and Human Services rule on health-privacy regulations. Also, the Regulatory Affairs team has prepared a top 10 list of things dealers can do to prevent or minimize Superfund liability. The list appears at www.nada.org. It is an honor to represent you on the NADA board of directors. Make sure your NADA membership is upto- date!

 

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