Sunday, July 6, 2008
The General Assembly is now in session.
Tracking Virginia’s General Assembly
since 2007.
HB3104: Armed services; loans to members thereof or their dependents.
Chief Patron
Del.
Dave Nutter (R-7)
Dave Nutter
(R-7)
Christiansburg, VA
Served: 2002–
Progress
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Introduced |
 |
Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Status
Bill is Dead
Summary
Loans to members of the armed services. Prohibits creditors from making consumer loans to active duty members of the armed services or their dependents at an interest rate that exceeds an annual percentage rate of 36 percent. The measure prohibits certain other practices with respect to consumer loans to covered servicemembers and their dependents, including making a loan without reasonable grounds for believing that the servicemember has the ability to repay the loan, securing the loan with a personal check held for future deposit or electronic access to a bank account, and securing a nonpurchase money loan with a lien on the title to a motor vehicle.
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Poll Results
No Richmond Sunlight visitors voted on this bill while voting was open.
