Payday lending charges; establishes maximum annual interest rate. (HB249)
Introduced By
Del. John O'Bannon (R-Richmond)
Progress
√ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
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Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Payday lending charges. Establishes a maximum annual interest rate for payday loans of 36 percent. In addition, the measure requires each prospective borrower to acknowledge in writing that he has received and read a copy of the most recent version of the State Corporation Commission's Consumer Guide to Payday Lending before entering into a payday loan. View Full Text »
Status
02/05/2008: Merged into HB12
View Bill's History
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Comments
AARP Supports