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Industry group backs bill to regulate vehicle debt-waiver (GAP) products; committee heard consumer-protection provisions
5938535 · October 14, 2025
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Summary
The Guaranteed Asset Protection Alliance urged the committee to adopt House Bill 416 and Senate Bill 281, proposing a regulatory framework for debt-waiver (GAP) products including a 30-day free-look period, disclosure rules and a prohibition on conditioning vehicle financing on product purchase.
Travis Moore, general counsel for the Guaranteed Asset Protection Alliance, asked the Joint Committee on Consumer Protection and Professional Licensure to report House Bill 416 and Senate Bill 281 favorably. Moore said the bills would create clear statutory requirements for…
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