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Geithner Extends TARP; Hopes to Spur Business Lending

Treasury Secretary Timothy Geithner told Congress that the Obama administration is extending the $700 billion financial-rescue program until next October, saying the U.S. must hold on to the money in case of new financial shocks, Business Week reported. In a letter to congressional leaders, Geithner ... Read More » Tags: , ,

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Rep. Watt Looks to Eliminate Dealer Exemption From CFPA

WASHINGTON — The National Automobile Dealers Association (NADA) is mobilizing a nationwide grassroots effort to oppose Rep. Mel Watt (D-N.C.)’s amendment to eliminate an exemption for auto dealers from the soon-to-be created Consumer Financial Protection Agency (CFPA). The CFPA is currently part of financial reform ... Read More » Tags: ,

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Edmunds.com Forecasts 2010 Automotive Trends

SANTA MONICA, Calif. — Edmunds.com forecasts that about 11.5 million cars and light trucks will be sold in the United States in 2010. The industry is currently on track to sell about 10.3 million cars and light trucks this year. “Most car shoppers will focus ... Read More » Tags: ,

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Dealers' Online Ad Spending Soars 45 Percent

Auto dealerships dropped their overall ad budgets 27 percent, but increased Internet ad spending 45 percent in the first three quarters of 2009, compared to the same time period in 2008, according to new data from Nielsen. The data points to an ongoing trend of ... Read More » Tags:

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Legislative Effort Moves Forward Despite Promises From GM and Chrysler to Address Dealership Closures

Despite General Motors and Chrysler announcing comprehensive plans to resolve concerns by dealers who were cut or are winding down, the National Automobile Dealers Association (NADA) continued this week to pursue legislation to reverse dealer terminations. Last Thursday, Chrysler announced that it planned to institute ... Read More » Tags: , ,

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CFPA Bill Added to Larger Financial Reforms Package

A House committee has incorporated the Consumer Financial Protection Agency (CFPA) into a larger financial reforms package, called the Wall Street Reform and Consumer Protection Act. The new bill, HR 4173, was finalized by the House Financial Services Committee on December 2, and will be ... Read More » Tags:

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