GNYADA August 2016 Newsletter

Dealerships Must Have CO Detectors 16

Dealers are encouraged to reach out to their local fire or health depart- ments, who can advise them on where, and how many, detectors should be positioned in their facilities.

New York State’s Uniform Fire Prevention and Building Code requires carbon monoxide detectors within any commercial building that contains a carbon monoxide source; this includes all dealerships and repair shops. Rules for Detector Placement If a facility is smaller than 10,000 square feet, a carbon monoxide detec- tor must be positioned at a central location. Any facility larger than 10,000 square feet requires one cen- trally located detector, and any point that is more than 100 feet from the central location requires an additional detector. Enforcement of this law will be conducted locally, and fines can be $1,000 for each day that the dealership is noncompliant.

If you have questions regarding carbon monoxide requirements, please call GNYADA at 718.746.5900.

17 Consumer Financial Protection Bureau (CFPB) Reformation Awaits Senate Vote

provides dealers with an optional mechanism for ensuring that their credit pricing is fair and consistent across the board. If you have regis- tered, then this is relevant to mention in any correspondence you send to our U.S. Senators. To learn more about the program, visit: https://www.nada.org/faircredit/ We will continue updating our mem- bers on the various efforts to thwart the CFPB’s overreach into the dealer financing model, including the progress of the above legislation as it moves through the chambers of government.

In a communication sent out by NADA, Chairman, Jeff Carlson similarly urged dealers nationwide to reach out to their Democratic U.S. Senators to ask them to support the bill. Carlson also noted the need for immediate action, as the nearing Presidential election means a short- ened congressional session, therefore the vote on S.2663 could come up at any time.

Senate Bill S.2663 is the next step for the “Reforming CFPB Indirect Auto Financing Guidance Act”. The House version of this bill — H.R. 1737 — passed in a landslide vote last November. The Association will be asking Senators Schumer and Gillibrand to vote in favor of this bill, and we encourage our members to contact them as well.

Provable Consistency in Dealership F&I

The Fair Credit Compliance Policy & Program has been adopted by many dealers. Jointly released by NADA, AIADA and NAMAD, the program

Greater New York Automobile Dealers Association • www.gnyada.com

The Newsletter • August 2016 11