Payday lenders; prohibits any person licensed under Payday Loan Act from making open end loan. (SB1470)
Introduced By
Sen. Dick Saslaw (D-Springfield) with support from 11 copatrons, whose average partisan position is:
Those copatrons are Sen. Creigh Deeds (D-Charlottesville), Sen. Mamie Locke (D-Hampton), Sen. Don McEachin (D-Richmond), Sen. John Miller (D-Newport News), Sen. Yvonne Miller (D-Norfolk), Sen. Steve Newman (R-Forest), Sen. Tommy Norment (R-Williamsburg), Sen. Phil Puckett (D-Tazewell), Sen. Toddy Puller (D-Mount Vernon), Sen. Roscoe Reynolds (D-Martinsville), Sen. Ken Stolle (R-Virginia Beach)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
☐ |
Signed by Governor |
✓ |
Became Law |
Description
Open-end loans by payday lenders. Prohibits any person licensed as a lender under the Payday Loan Act from making an open-end loan pursuant to the provision that currently allows any seller or lender to extend credit under an open-end credit or similar plan at any rate of interest and fees that the parties agree, as long as the obligor is provided a 25-day interest-free grace period. An extension of credit that violates this prohibition is declared to be unenforceable against the borrower. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/21/2009 | Presented and ordered printed 090116324 |
01/21/2009 | Referred to Committee on Commerce and Labor |
01/26/2009 | Reported from Commerce and Labor with substitute (13-Y 1-N) (see vote tally) |
01/27/2009 | Committee substitute printed 090170324-S1 |
01/28/2009 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
01/29/2009 | Read second time |
01/29/2009 | Reading of substitute waived |
01/29/2009 | Committee substitute agreed to 090170324-S1 |
01/29/2009 | Engrossed by Senate - committee substitute SB1470S1 |
01/30/2009 | Read third time and passed Senate (37-Y 1-N) (see vote tally) |
01/30/2009 | Reconsideration of passage agreed to by Senate (39-Y 0-N) (see vote tally) |
01/30/2009 | Passed Senate (39-Y 0-N) (see vote tally) |
02/13/2009 | Placed on Calendar |
02/13/2009 | Read first time |
02/13/2009 | Referred to Committee on Commerce and Labor |
02/19/2009 | Reported from Commerce and Labor with substitute (22-Y 0-N) (see vote tally) |
02/19/2009 | Committee substitute printed 090242324-H1 |
02/23/2009 | Read second time |
02/24/2009 | Read third time |
02/24/2009 | Committee substitute agreed to 090242324-H1 |
02/24/2009 | Engrossed by House - committee substitute SB1470H1 |
02/24/2009 | Passed House with substitute (98-Y 0-N 1-A) |
02/24/2009 | VOTE: --- PASSAGE (98-Y 0-N 1-A) (see vote tally) |
02/25/2009 | House substitute agreed to by Senate (37-Y 0-N) (see vote tally) |
02/25/2009 | Title replaced 090242324-H1 |
03/09/2009 | Enrolled |
03/09/2009 | Bill text as passed Senate and House (SB1470ER) |
03/10/2009 | Signed by President |
03/11/2009 | Signed by Speaker |
03/17/2009 | Impact statement from DPB (SB1470ER) |
03/30/2009 | Governor's recommendation received by Senate |
04/07/2009 | Placed on Calendar |
04/08/2009 | Enacted, Chapter 859 (effective 7/1/09) |
04/08/2009 | Senate concurred in Governor's recommendation (40-Y 0-N) (see vote tally) |
04/08/2009 | House concurred in Governor's recommendation (99-Y 0-N) |
04/08/2009 | VOTE: --- ADOPTION (99-Y 0-N) (see vote tally) |
04/08/2009 | G Emergency clause added by Governor's recommendation |
04/08/2009 | G Governor's recommendation adopted |
04/08/2009 | Reenrolled |
04/08/2009 | Reenrolled bill text (SB1470ER2) |
04/08/2009 | Signed by President as reenrolled |
04/08/2009 | Signed by Speaker as reenrolled |
04/08/2009 | Enacted, Chapter 860 (effective 4/8/09) |
04/08/2009 | G Acts of Assembly Chapter text (CHAP0860) |
04/14/2009 | Reenrolled |
04/14/2009 | Reenrolled bill text (SB1470ER2) |