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Tracking Virginia’s General Assembly
since 2007.
HB249: Payday lending charges; establishes maximum annual interest rate.
Chief Patron
Del.
John O'Bannon (R-73)
John O'Bannon
(R-73)
Richmond, VA
Served: 2001–
Progress
 |
Introduced |
 |
Passed Committee |
|
Passed House |
|
Passed Senate |
|
Signed by Governor |
|
Became Law |
Status
12/28/2007: In Commerce and Labor Committee
Summary
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.
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Votes were cast on this bill on the following dates for which Richmond Sunlight has video: 01/23/2008, 01/23/2008 and 02/05/2008.
Photosynthesis
This bill is being tracked by A More Perfect Union, VA A., Virginia Poverty Law Center, Vivian P., Liz S., Virginia Interfaith Center for Public Policy, Amber A., Al H., Hober M., M C., Martin T., Virginia Interfaith Center, Virginia Interfaith Center for Public Policy, Timothy W., Legal Aid Justice Center, Andrea H., Virginia Interfaith Center, Virginia Interfaith Center, Johnny C., Aimee, WHSV-TV, Americans for Prosperity, VA Muslim Coalition for Public Affairs, JWS, Ben T. and luna.
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