Earlier this week, the American Bar Association agreed to a resolution that asks lawmakers at all levels of government to provide a safe harbor against pricing discrimination claims for dealers who fully and faithfully implement NADA’s Fair Credit Compliance Policy and Program.
The resolution, which was an amendment to the ABA’s Civil Rights and Social Justice platform, also includes recommendations for policymakers to enforce fair lending laws and eliminate discrimination in car sales and vehicle financing markets, while also increasing consumer protections and disclosure in auto sales.
Mike Alford, NADA’s regulatory affairs committee chairman, said in a statement that the ABA’s resolution is another endorsement of the dealer association’s fair credit program as a thorough and robust mechanism for ensuring equal treatment of car buyers.
“Today’s action represents the latest recognition by a diverse and growing number of public and private groups of the value of the optional NADA fair credit program as an effective mechanism to address fair credit concerns while preserving competition in the marketplace,” Alford said.
You can view more information on the NADA program, and supporting documents, at www.nada.org/faircredit.Download Bulletin PDF