Removing Barriers Blog

Comment Letter to NHTSA on Odometer Disclosure Requirements
Posted May 24, 2016 by CUNA Advocacy

Today we sent a letter to the National Highway Traffic Safety Administration (NHTSA), on its Notice of Proposed Rulemaking on Odometer Disclosure Requirements.  

We provided comments on these odometer disclosure requirements, which will allow the 50 states to adopt schemes for electronic odometer disclosure statements.  Our member credit unions are frequently involved in the financing of automobiles and the transfer of a title, and the ability to perfect a lien is of utmost importance to our members.

Our comment letter touched on the identity of parties to a motor vehicle transfer and security of signatures, electronic odometer disclosures, powers of attorney, and the process of providing odometer statements to lienholders.

Our letter stressed our support of basic uniform standards that will facilitate the electronic disclosure of odometer information both within a state and among the states.