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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 district on New York’s southern tier already loses business to Pennsylvania and warned the bill could impose extra costs that further disadvantage local dealers. “We already lose a lot of car sales to the state of Pennsylvania … it’s just easier and cheaper to do business in Pennsylvania,” Burrell said and stated he would vote no on the measure.
Chair Sen. Sanders said the committee would take a motion; the bill was moved, seconded and the chair announced it was reported out of committee. The transcript records the earlier statement from Burrell that he intended to vote no; the committee record as read at the vote did not supply a full roll‑call in the transcript.
Sponsor remarks and debate noted growing problems in used‑car sales and consumer protections, with the chair saying the Department of Financial Services previously lacked clear oversight in this “gray area.” The committee did not detail amendments or a final vote tally in the transcript.
The bill will move to the next committee or floor process per legislative procedure.
