Payday lending charges; power of localities to regulate. (HB189)
Introduced By
Del. Bob Marshall (R-Manassas)
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Payday lending; power of localities to regulate. Authorizes each locality to establish (i) a maximum annual interest rate for payday loans made within its jurisdiction and (ii) the maximum number of payday loans that payday lenders operating within its jurisdiction may, in a calendar year, make to a borrower residing in the locality. References in the Payday Loan Act to the fee that may be charged on such loans are revised to refer to the interest that may be charged. View Full Text »
Outcome
Bill Has Failed
History
- 12/26/2007 Committee
- 12/26/2007 Prefiled and ordered printed; offered 01/09/08 083008616
- 12/26/2007 Referred to Committee on Commerce and Labor
- 02/05/2008 Tabled in Commerce and Labor