This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

OATRA Outraged At Last-Minute Amendment To Senate Bill 273 That Eliminated Protections For Ohio Consumers

COLUMBUS, Ohio, Nov. 30, 2012 /PRNewswire/ -- The Ohio Auto and Truck Recyclers Association (OATRA) today expressed outrage over the House Insurance Committee's decision to substantively eliminate almost all consumer protections in a draft bill that would open up automotive salvage pool auctions to unqualified purchasers.  OATRA has raised serious concerns over the legislation and is now urging Ohio lawmakers not to support the bill, which has gone from bad to worse.

" Ohio's lawmakers should do the responsible thing and withdraw this deeply flawed bill before it goes one step further," said Jim McKinney, President of OATRA.  "By adopting sweeping changes at the last minute which can have devastating consequences, members of the House Insurance Committee have gone too far.  A bill such as SB 273 that will kill jobs and impact the safety of millions of Ohioans should be carefully considered, and the bill could have been amended the correct way at many points earlier in the process."Earlier this week the House Insurance Committee suggested that it had a "technical amendment" to make to the bill, but then managed to instead insert substantive language that radically changed the scope of the legislation.  The bill in its current form would now have added negative impacts, including:

  • Eliminating critically important language on vehicle titles that would warn consumers that they are purchasing unsafe vehicles
  • Enabling consumers to unwittingly purchase vehicles that they do not realize cannot legally be insured, registered or returned to the road
  • Making it easy for criminals to purchase cars at auctions and use them for illegal purposes since the bill removes requirements for buyers to show identification
  • Eliminating an important tracking database that can be used by law enforcement 

The elimination of key consumer safety provisions comes on the heels of efforts by OATRA to educate policymakers and the public as to its many concerns about SB 273.  The bill would risk public safety by leading to dangerous cars returning to the roads.  It would also result in increased auto-related crimes and harm to the environment should unlicensed operators fail to properly recycle or dispose of contaminants in the salvage cars. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs