Search
 

Bill Curbing Dealer Finance Markups in Effect in California

SACRAMENTO, Calif. - Gov. Gray Davis signed a bill into law on July 14 designed to allow the state to track the amount of interest rate markup auto dealers charge customers, and allow the state attorney general to take action on markups the state considers excessive. Under the new law,...

By Staff Writer | Updated on July 29, 2003

SACRAMENTO, Calif. – Gov. Gray Davis signed a bill into law on July 14 designed to allow the state to track the amount of interest rate markup auto dealers charge customers, and allow the state attorney general to take action on markups the state considers excessive. Under the new law, dealers must keep copies of the lending contracts for at least seven years or the length of the loan, whichever is longer. They must also make the contact information available on a court order or administrative subpoena by the state attorney general.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.