Electronic Payment Processing Fees for Motor Vehicle Purchases

Summary

The bill lets holders of retail installment contracts for motor vehicles charge a convenience fee when buyers pay electronically, as long as the fee is reasonable, capped at $10 or 3% of the payment, and buyers are offered fee‑free alternatives. It requires clear disclosure of the fee and the option to pay by cash, check, money order, or ACH without charge. The measure aims to let dealers recoup processing costs but did not pass.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share