April 17, 2018 / 7:28 PM / in 2 days

Senate votes 50-47 to debate undoing consumer bureau's auto-loan guidance

WASHINGTON (Reuters) - The U.S. Senate voted 50-47 on Tuesday in favor of debating whether to undo the consumer watchdog’s March 2013 guidance restricting how car dealers extend auto loans to consumers.

The vote to discuss the Consumer Financial Protection Bureau rule, which critics say overreaches its authority, will be debated on the Senate floor on Tuesday before a second vote on whether to overturn it.

Reporting by Katanga Johnson; Editing by Michelle Price and Peter Cooney

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