Kelley Blue Book senior analyst Alec Gutierrez shared an enthusiastic yet cautious assessment of the $100 million initial public offering launched by Carvana, the online used-vehicle retailer that said in its filing paperwork that it has sold and delivered approximately 27,500 vehicles to customers through its website during a three-year span from its inception through the close of 2016.

First, the development surfaced that the Department of Justice filed an amicus brief - a legal document filed in appellate court cases by non-litigants with a strong interest in the subject matter - questioning the Consumer Financial Protection Bureau being overseen by a single director.  Turns out, that stance was concurred by a collection of 15 state attorneys general, led by Kansas attorney general Derek Schmidt. These attorneys general argue that there are "unprecedented efforts" to insulate the CFPB director's decisions from review result in "essentially unchecked administrative powers", which is at odds with the Constitution's command that all executive power be vested in the president.

Volkswagen AG will soon do what's been impossible since its emissions crisis began: sell diesel-powered cars in the U.S. The company received approval from the EPA for dealers to sell 2015 model year diesels after updating the vehicles' emissions software, VW Group of America spokeswoman Jeannine Ginivan said.  The software update is part of a required emissions repair approved by the EPA and California Air Resources Board. The repair will also include changes to diesel engine hardware, but dealers do not have to wait until the repair parts become available early next year, Ginivan said.