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Archive for Tuesday, May 25, 2010

Statehouse Live: Brownback leads vote to exclude auto dealers from oversight of consumer agency

May 25, 2010, 8:53 a.m. Updated May 25, 2010, 11:36 p.m.

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— U.S. Sen. Sam Brownback, R-Kan., led a bipartisan vote over the objections of President Barack Obama to exclude auto dealers from the regulations of a proposed consumer financial protection bureau.

The nonbinding 60-30 vote Monday recommends that House-Senate conferees consider Brownback’s proposal when negotiating differences in a bill that overhauls financial regulation of lending and borrowing.

Backed by the military and consumer groups, Obama sought to subject auto dealers that assist in financing to oversight from the proposed consumer regulatory agency. Military officials have said soldiers often are targets of predatory lending schemes when buying cars.

But Brownback fought the provision. “It simply does not make sense to treat auto dealerships like financial institutions,” he said. “Auto dealers are a part of Main Street, not Wall Street, and they are not responsible for the financial meltdown.”

Brownback said there are currently adequate safeguards to help soldiers.

“If anyone is a victim to predatory lending while buying a car, he or she should take the issue to the local and state authorities who already handle such cases and can properly investigate the problem. Adding in another layer of bureaucracy is not the answer,” said Brownback, who is running for Kansas governor.

State Sen. Tom Holland of Baldwin City, who is running for the Democratic nomination for governor, has criticized Brownback over his stand on this issue.

“Washington should be closing loopholes, but Sam Brownback is protecting loopholes for his lobbyist buddies,” Holland said.

In a news release, Brownback emphasized that his proposal won votes from members of both parties, including the support of Senate Majority Leader Harry Reid, D-Nev., and Senate Minority Leader Mitch McConnell, R-Ky.

Car dealers have made at least $3 million in campaign donations at the federal level this election cycle, with more than two-thirds going to Republicans, The Associated Press reported.

In the 2008 election, they gave at least $11.9 million, steering more than three-quarters to the GOP, according to data compiled by the nonpartisan Center for Responsive Politics.

Comments

md 3 years, 10 months ago

Beo-are you saying that Sam is -gay-homo-fag-queer? You have used an derogatory term for another person that many associate with gays.You are a homophobe. By your warped point of view you belong in the tea party/

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texburgh 3 years, 10 months ago

Auto dealers are almost as predatory as credit card companies. "You can buy a brand new car with no money down!" (A car that will soon be repossessed and auctioned off.)

Of course they should be reigned in just like other predatory lenders.

Glad to see Sam is on the payroll of the auto dealers and working to protect these predatory lenders from those darn consumers.

Yet another reason to vote for Tom Holland for Governor.

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beobachter 3 years, 10 months ago

somehow i tend to think based on sam's religious fervor and stupid rants, he a true teabagger, No matter how or what definition you define him by. bet he might also have a wide stance and web link to rentboy,com in his favorites list..

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md 3 years, 10 months ago

If Brownback is elected it will be by the people!

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barlowtl 3 years, 10 months ago

I'll say a special prayer for Kansas if Brownback takes the reins in Kansas. Meanwhile be sure and read all the fine print before you sign anything especially a contract for a used car.

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63BC 3 years, 10 months ago

Don't forget Dennis Moore, who supported exempting auto dealers in the House Financial Services Committee vote.

Is it possible, just possible, that the White House is wrong and the bipartisan congressional super-majority---including Brownback, Moore and Cleaver---is correct?

At a minimum, doesn't Brownback get some credit for reaching across the aisle and winning resoundingly?

The haters on this board crack me up.

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nugget 3 years, 10 months ago

Ah yes. That old Republican game of no oversight for our precious businesses, as if they simply can't operate otherwise.

How's that working for ya'all, those eight years of Bush policies of no oversight for banking, oil and real estate? Pretty good, huh? I thought so.

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parrothead8 3 years, 10 months ago

There IS currently adequate safeguards?

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MartinPrince 3 years, 10 months ago

Let's see, Top Contributors to Sen. Brownback...

http://www.opensecrets.org/politicians/contrib.php?cycle=Career&cid=N00005244&type=I

Yup, National Auto Dealers Assn.

Looking out for your people. Thanks Sam!

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Sean Livingstone 3 years, 10 months ago

Not sure why Republicans can always drag the Democrats down on everything. They sure are good in doing such things.

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keith manies 3 years, 10 months ago

I can't wait until Brownback brings his right wing schtick to the Topeka as governor. With the Repug extremists already in control of the state house, old Sammy will have every thing he needs to turn Kansas into an extension of his opus dei philosopy. Kansas will continue to be the laughing stock of the USA!!

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UfoPilot 3 years, 10 months ago

What part of "bi-partisan vote" do you not understand. It's the first sentence of the article!

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Randall Uhrich 3 years, 10 months ago

Brownback: Still a slimy Republican shilling for corporate interests. If he isn't pushing creationism garbage, it's crap like this.

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