21RS HB 407

Actions

Last Action	02/09/21: to Committee on Committees (H)
Title	AN ACT relating to consumer protections in motor vehicle financing.
Bill Documents	Introduced
Bill Request Number	58
Sponsors	L. Willner, S. Westrom
Summary of Original Version	Create a new section of KRS Chapter 190 to prohibit motor vehicle dealers from charging a fee or receiving compensation for providing, procuring, or arranging financing through a third-party lender for the purchase or lease of a motor vehicle by a consumer unless certain notifications to the consumer are made; establish penalties; amend KRS 190.040 to require that a dealer's license be revoked in the case of a third or any subsequent violation if the dealer has willfully engaged in repetitive violations.
Index Headings of Original Version	Loans and Credit - Motor vehicle dealers, third-party financing, notice requirements Motor Vehicles - Motor vehicle dealers, third-party financing, notice requirements Consumer Affairs - Motor vehicle dealers, third-party financing, notice requirements