Senate Likely to Vote to Rescind CFPB Indirect Auto Guidance

The Senate voted, 50-47, to debate whether to use the Congressional Review Act to rescind the CFPB Indirect Auto Guidance. As it is unlikely that a senator would vote both to debate the issue and retain the Guidance, that almost certainly means the Senate will vote to block the Guidance when it votes, probably tomorrow, on the merits. The vote is not subject to the filibuster, so a simple majority is enough. The House has yet to act but is generally less protective of consumers than the Senate and so is likely to follow suit. All Republicans voted to proceed to the debate, and one Democrat, Senator Manchin of W Va. joined them. WSJ has more here.

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