Senate vote on Brownback auto dealer carveout postponed

The Senate Thursday postponed voting on a controversial amendment to Wall Street overhaul legislation that would carve out auto dealers from a new consumer protection regulator.

The amendment is sponsored by Sen. Sam Brownback (R-Kan.) and is supported by the National Automobile Dealers Association (NADA). The Senate will not vote on the amendment until next week.

The Obama administration has strongly opposed an exemption for auto dealers from a new consumer financial protection regulator housed at the Federal Reserve.

NADA said it is planning to bring 150 auto dealers to Washington next week to lobby lawmakers on the issue.