During this August 2011 Congressional recess; make your displeasure known to Senator Tester. As our voice on the U.S. Senate Banking Committee, Senator Tester did nothing to protect and advance the interests of Native American consumers who are the primary targets of predatory second rate lenders in the state of Montana.
As a member of this committee, Senator Tester did nothing to stop the Brownback Amendment from inclusion in the Frank-Dodd reform bill.
Built in biases in the banking industry often preclude Native Americans, women and youth consumers from getting a competitively priced loan from your local bank. As a result, these consumers are often subjected to the predatory practices of auto dealers, who provide vastly marked-up loans for lesser quality used cars.
The auto dealer industry lobbied hard for the Brownback Amendment, and was successful in doing so. Auto dealers-lenders provide up to 80% of the auto loans in the nation. The Brownback Amendment was heavily opposed by the Obama administration. When it has come to deciding who they stand with, both Tester and Baucus have stood with the banks in reforming the financial sector.
Voice your dissatisfaction of Senator Tester's lack of effort in fighting for average Montanans to be free from predatory car loans.