Lee Zeldin: “I thank the gentleman for yielding. I rise in strong support of this important resolution, S.J. Res. 57. I am the House…”

“I thank the gentleman for yielding. I rise in strong support of this important resolution, S.J. Res. 57. I am the House sponsor of the companion legislation to this Congressional Review Act resolution to repeal ill-founded guidance issued by the Consumer Financial Protection Bureau relating to the dealer-directed auto lending market. Mr. Speaker, I want to thank Chairman Jeb Hensarling for all of his amazing leadership on this very important issue. I also want to commend my Senate counterparts on this legislation: Senators Jerry Moran and Pat Toomey. Mr. Speaker, for so many of my constituents, access to transportation is key to their economic prosperity. And access to affordable credit is what helps them get behind the wheel to get their kids to school, get themselves to work, or to get sick loved ones to medical appointments. That is why the 2013 assault by the Consumer Financial Protection Bureau on the dealer-directed auto finance market is so damaging to the very people this rogue agency is claiming to help. Indirect auto financing, also known as dealer-directed auto financing, are the loans offered to consumers in the dealerships where they are purchasing a vehicle. Dealer-directed financing is an important option for consumers and provides them and the dealerships they are purchasing the vehicle from with the flexibility to meet a consumer's needs based on their budget and credit score.…”