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Committee reports bill to extend DFS oversight to car sales; southern‑Tier senator warns of cross‑border impact
Summary
S.7654 would give the Department of Financial Services oversight of motor‑vehicle sales financing and change retail installment contract requirements; the committee reported the bill out despite at least one member voicing concern it could hurt dealers near the Pennsylvania border.
The Senate Banks Committee reported out S.7654, sponsored by Sen. Byno, a measure that would expand the superintendent of financial services’ authority to oversee sales of motor vehicles to consumers, amend personal property law on installment contracts and change dealer disclosure and conditional delivery rules.
Sen. George Burrell said his…
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