Open-end loan plans; caps finance charges and fees that may be charged on extension of credit. (SB167)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Open-end loan plans; finance charges. Caps the finance charges and other charges and fees that may be charged on extension of credit under certain open-end credit plans at an annual rate of 36 percent if the maximum amount that may be advanced under the plan does not exceed $2,500. If the maximum amount that may be advanced exceeds $2,500, the lender may impose finance charges and other charges and fees at such rates and in such amounts as the parties may agree. View Full Text »
Outcome
Bill Has Failed
View Bill's History
