Rejected dealer arbitration legislation in the hands of Obama
A legislation to provide as many as 2,150 rejected General Motors Co.’s and Chrysler’s dealers the right to seek reinstatement through neutral arbitration is now in the hands of President Barack Obama. The US Senate earlier this week, passed this proposal.
The measure was part of a $446 billion spending bill that passed on a 57-35 vote today. Obama is expected to sign the bill, triggering a six-month arbitration process. Last Thursday, the House passed the bill while earlier in the week, a conference committee of congressional leaders approved the financial-services spending bill that included the dealer arbitration provision. Neutral arbitrators would then be required under the legislation to balance the economic interests of dealers, the companies and the public. In addition, the bill also would allow dealerships to “present any relevant information” during arbitration.
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