Saturday, May 17, 2008
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Tracking Virginia’s General Assembly
since 2007.
SB24: Payday lending charges; establishing maximum annual interest rate.
Chief Patron
Sen.
Roscoe Reynolds (D-20)
Roscoe Reynolds
(D-20)
Served: 1997–
Progress
 |
Introduced |
 |
Passed Committee |
 |
Passed House |
|
Passed Senate |
|
Signed by Governor |
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Became Law |
Status
02/12/2008: Failed to Pass in Committee
Summary
Payday lending charges. Establishes a maximum annual interest rate for payday loans of 36 percent. 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.
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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, 02/06/2008, 02/06/2008 and 02/12/2008.
Identical Bills
The following bills are identical to this one: SB670
Introduced: 2008-01-10
Status: Failed to Pass in Committee
Photosynthesis
This bill is being tracked by JWS, Virginia Interfaith Center, VA A., Hober M., WHSV-TV, Virginia Interfaith Center, Virginia Interfaith Center for Public Policy, Legal Aid Justice Center, Scott W., Virginia Poverty Law Center, A More Perfect Union, Mike S., Liz S., Virginia Interfaith Center, Martin T., Timothy W., Derek M., Americans for Prosperity, Vivian P., Ben T., Deeds for Virginia, Amber A., The Washington Post and Virginia Interfaith Center for Public Policy.
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Bill Text
Related Bills
Status: Failed to Pass in Committee
Status: Failed to Pass in Committee
Status: Passed the House
Status: Failed to Pass in Committee
Status: in subcommittee
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Comments
Support the 36% movement. Check out www.virginiafairloans.org and www.faithfulpledge.org
Level the playing field. All the other state lenders are limited to 36%. The payday shops can do it, too, or they shouldn't get to play at all.
AARP Supports
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