Regards debt suspension products; vehicle protection agreements

This bill amends laws governing debt suspension products, vehicle protection agreements, and ancillary product protection contracts to clarify definitions and consumer protections. It explicitly states that agreements waiving fees for excess wear, mileage, or vehicle damage are not insurance products and cannot be required as a condition for obtaining credit or leasing a vehicle. The legislation also mandates that sellers provide insurance policies before a buyer becomes liable on a loan and requires that charges for debt suspension products be listed as specific goods rather than interest. Additionally, the bill updates the definition of ancillary protection contracts to include services like paintless dent removal and key replacement while excluding standard service contracts and warranties.