Vermont Senate Bill 18 became law yesterday without Governor Philip Scott’s signature and without harmful language for consumers attempting to finance vehicles in the Green Mountain State.
The new law places restrictions on what terms are prohibited in a standard form contract, such as a contract for the extension of credit or a retail installment sales contract. It includes a provision that effectively prohibits arbitration, an efficient and inexpensive way for consumers to resolve issues and obtain redress with companies.
The Vermont auto dealers and AFSA, together with the help of Hudson Cook, ensured that contracts in which one party is governed by the state’s department of financial regulation are excluded from the restrictions. Banks are also excluded.
AFSA will continue to fight for the ability of lenders to offer safe, affordable credit and for consumers to take advantage of the same.
If you have any questions about Vermont’s new law, please contact AFSA State Government Affairs or Nikki Munro at Hudson Cook.
Vermont Senate Bill 18 became law yesterday without Governor Philip Scott’s signature and without harmful language for consumers attempting to finance vehicles in the Green Mountain State.
The new law places restrictions on what… Read the rest
In The Hill today, AFSA President & CEO Bill Himpler lays out the need for the Pentagon to allow servicemembers to take advantage of Guaranteed Asset Protection, also known as a GAP waiver.
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Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger on Wednesday said in remarks to the Exchequer Club that she wants to find ways to collaborate with financial institutions to help people strengthen their finances
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AFSA President & CEO Bill Himpler this week spoke to the 31 attendees at the American Financial Services Association Education Foundation Leadership Development Program at the University of North Carolina, Chapel Hill.
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Join us July 25th at 2 p.m. ET for Opportunities in Used Vehicle Financing, presented by TransUnion.
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