The leader of the Consumer Financial Protection Bureau discussed a variety of compliance topics with the National Independent Automobile Dealers Association.
Organizers called it an “unprecedented appearance” by CFPB director Kathy Kraninger that highlighted Tuesday’s regulatory briefings at NIADA’s National Policy Conference.
According to a news release, Kraninger was joined on Tuesday’s agenda by deputy assistant to the president and deputy director of the National Economic Council Andrew Olmem and keynote speaker Lt. Col. Oliver North.
During her fireside chat with NIADA senior vice president Shaun Petersen, Kraninger touched a wide array of topics, including changes to the CFPB’s consumer complaint database and an upcoming rule for third-party debt collectors.
She said while the CFPB will keep its controversial consumer complaint database available to the public, there will be changes to address the concerns of the business community, including a new landing page that includes information providing perspective to the complaints in the database.
“We’ve done a lot of outreach and had other conversations about how we can make this better,” Kraninger said. “I believe fundamentally that things that are made public — I can’t pull that back. I don’t think that’s consistent with transparency or the way the government should operate. But putting that information in context is helpful.”
In his session, Olmem provided insight and answered questions about the Trump administration’s approach to economic policy, touching on topics such as jobs, over-regulation and tariffs.
North — a combat-decorated Marine who served as counter-terrorism coordinator for the National Security Council, as well as a best-selling author, founder of a small business, holder of three U.S. patents and author of a syndicated column — gave the audience of small business entrepreneurs lessons on leadership, illustrated with stories from his career as a Marine and as host of Fox News Channel’s “War Stories.”
Tuesday’s regulatory sessions also included an update from the Federal Trade Commission’s Nikhil Singhvi, while Kil-Jae Hong of the National Highway Traffic Safety Administration and Tom Musick of the National Safety Council discussed new ways of addressing vehicle recalls. In addition, Andrew Aragon of Quorum offered ideas about how dealers can increase their political engagement in today’s digital world.
The National Independent Automobile Dealers Association’s annual trip to Washington D.C., opened with record attendance on Monday. The event continued on Wednesday with the Day on Capitol Hill when more than 200 independent dealers and industry partners meet with members of Congress to advocate for the used-vehicle industry and small business.