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OR HB2651
Bill
Status
6/27/2025
Primary Sponsor
Paul Evans
Click for details
AI Summary
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Caps total fees on motor vehicle financing at the greater of $150 or 0.5% of the loan amount or vehicle cash sale price, whichever is lesser
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Applies to consumer finance loans for vehicle purchases, retail installment sales, and retail leases
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Covered fees include origination fees, acceptance fees, contract fees, processing fees, and any other charges not related to interest, principal repayment, or late payment penalties
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Restricts fee collection by licensees, motor vehicle dealers, and financing agencies
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Takes effect for loans, sales, and leases made or refinanced on or after the act's effective date
Legislative Description
Relating to fees charged in connection with consumer finance loans for purchasing motor vehicles.
Last Action
In committee upon adjournment.
6/27/2025