New York S06543 mandates motor vehicle dealers to disclose price markups to purchasers and authorizes a study on problematic practices.

New York S06543 requires motor vehicle dealers to inform purchasers about any markups in the cost of a vehicle due to financing. Failure to disclose these markups can lead to the revocation of the dealer's registration and impose civil liability for damages on the dealer. The bill also authorizes the financial frauds and consumer protection unit of the Department of Financial Services to study problematic practices in motor vehicle price markups, including potential discrimination, and to submit findings and recommendations to state officials.

New York S06543 mandates motor vehicle dealers to disclose price markups to purchasers and authorizes a study on problematic practices.

New York S06543 requires motor vehicle dealers to inform purchasers about any markups in the cost of a vehicle due to financing. Failure to disclose these markups can lead to the revocation of the dealer's registration and impose civil liability for damages on the dealer. The bill also authorizes the financial frauds and consumer protection unit of the Department of Financial Services to study problematic practices in motor vehicle price markups, including potential discrimination, and to submit findings and recommendations to state officials.