An Act promoting consumer choice regarding the use of credit trigger leads
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to give consumers more control over whether they are offered ‘credit trigger leads’ – which are offers for credit products that are presented during the purchase of a vehicle. It seeks to promote consumer choice by requiring dealerships to provide consumers with clear information about these offers and to allow them to opt-out if they do not want them. The bill also directs the state to study the impact of these offers.
Key provisions
- Requires dealerships to provide consumers with clear information about credit trigger leads.
- Allows consumers to opt-out of receiving credit trigger leads.
- Directs the state’s Financial Services committee to study the impact of credit trigger leads on consumers.
Who is affected
- Consumers purchasing vehicles
- Automobile dealerships
- Financial Services industry
Notable changes
- The bill mandates transparency regarding credit trigger leads.
- It grants consumers the ability to refuse these offers.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Michael S. Day
Cosponsor
Michael S. Day
Arguments
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