RVIA Economic Impact Study

The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.

Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .

Federal Appeals Court Rules CFPB Regulation Unconstitutional

Wed Oct 12, 2016

A federal appeals court delivered a strong rebuke to the government’s new consumer-finance watchdog, declaring the agency’s unusual independence to be unconstitutional, and ordering its powers be curbed.

The Tuesday ruling was the latest legal setback to the Obama administration’s postcrisis financial-regulatory regime.

The panel’s decision limited the broad discretion granted the five-year-old Consumer Financial Protection Bureau in the name of tilting the balance of power from industry to small borrowers, calling it a “gross departure” from the checks and balances normally imposed on regulatory agencies.

One of the ways the CFPB was suggesting its dealers finance is eliminating the competitive pricing and interest rates for consumers and suggesting a flat rate regardless of the person or vehicle. The Bureau’s reasoning was that the policy is based on claims that discounted interest rates create a fair credit risk.

Additional Information: http://www.wsj.com/articles/federal-appeals-court-finds-structure-of-cfpb-unconstitutional-1476197389