Elizabeth Warren driving solo so far on auto-loan fight
Elizabeth Warren is ready to go to battle against her latest foe — auto dealers.
Only problem — no one has rushed in to join her.
Warren, the fist-pumping, bank-bashing, Obama-needling senator from Massachusetts, has a reputation as a polarizing force. But her desire to take on a sacred cow has her in an unusually isolated position.
Warren has spent the past six weeks calling for stronger government oversight of dealers’ loans to car buyers, which are often the largest kind of unregulated debt consumers have. She is now trying to drum up support for a measure to bring lending at dealerships under the control of the Consumer Financial Protection Bureau.
None of Warren’s fellow Democrats on the Senate Banking Committee have agreed to co-sponsor the legislation yet, several industry and congressional sources confirmed for POLITICO.
Read more: http://www.politico.com/story/2015/06/elizabeth-warren-driving-solo-on-auto-loan-fight-118434.html