In a letter sent to the Consumer Financial Protection Bureau, Harley Davidson Financial Services argued that the motorcycle lending market should not be regulated alongside the car lending market under the bureau’s proposed “Larger Participant” rule.
In a Dec. 4 letter, HDFS stated that a motorcycle is a lifestyle choice, and does not qualify as an automobile as defined by the CFPB. HDFS argued that the CFPB Director Richard Cordray has stated before that an automobile, especially for those that live in rural or suburban areas, is “almost a basic necessity to get around.” Motorcycles, on the other hand, are leisure vehicles, like RVs, snowmobiles, and personal watercraft, according to the captive. The rule’s comment period ended Dec. 8.
