AFSA Comments on Proposed Revisions to Vermont Negative Equity Disclosure Form

On December 23, AFSA submitted a comment letter to the Vermont Department of Financial Regulation regarding proposed revisions to the disclosure form for negative equity in motor vehicle retail installment transactions. AFSA’s letter included a request for additional clarification on the disclosure of rebates, as well as a request to amend the regulation to limit its scope to vehicles designed for use on public highways. Finally, AFSA requested that any change to contract requirements include appropriate additional time for affected industry members to implement the required changes.AFSA will continue to monitor the rulemaking process and keep members apprised of any future changes to the proposed rule.