Relating to fees charged in connection with consumer finance loans for purchasing motor vehicles.
Catchline/Summary:
Prohibits a person from charging as the sum of specified fees more than $150 or one half of one percent of the amount of a consumer finance loan made for the purpose of purchasing a motor vehicle or one half of one percent of cash sale price of the motor vehicle. Digest: Says a person may not charge for a loan used to buy a car, or lease a car, fees that are more than the greater of $150 or one half of one percent of the loan amount or car price. (Flesch Readability Score: 68.2).
Prohibits a person from charging as the sum of specified fees more than $150 or one half of one percent of the amount of a consumer finance loan made for the purpose of purchasing a motor vehicle or one half of one percent of cash sale price of the motor vehicle. Applies the prohibition to retail installment sales and retail leases of motor vehicles.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
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HB 2651 House Committee On Commerce and Consumer Protection
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