S.Amdt. 2085

SA 2085. Mr. BLUMENTHAL submitted an amendment intended to be
proposed by him to the bill S. 2155, to promote economic growth,
provide tailored regulatory relief, and enhance consumer protections,
and for other purposes; which was ordered to lie on the table; as
follows:

At the appropriate place, insert the following:

SEC. ___. AUTO LENDING RULES.

Not later than 1 year after the date of enactment of this
Act, the Federal Trade Commission shall promulgate rules
that--
(1) prohibit auto dealer interest rate markups;
(2) end yo-yo scams;
(3) curb loan packing;
(4) implement steps to ensure that dealers do not fail to
pay off liens on trade-in vehicles or cause other harm to
consumers when the dealer closes; and
(5) eliminates predispute arbitration agreements in
contracts for the sale, servicing, financing, and leasing of
motor vehicles.
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