Payday Loan Act; notice of alternative lenders. (HB2819)

Introduced By

Del. Mark Sickles (D-Alexandria) with support from co-patron Sen. Roz Dance (D-Petersburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Payday loans; notice of alternative lenders. Requires licensed payday lenders to place a signboard at each licensed payday lending location on which not-for-profit charitable organizations that are willing to make unsecured loans of up to $500 may post a notice advising persons about their alternative to payday loans. In addition, licensed payday lenders are required to allow financial institutions to place brochures or pamphlets regarding alternative loan programs within payday lending locations. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/10/2007Committee
01/10/2007Prefiled and ordered printed; offered 01/10/07 070214510
01/10/2007Referred to Committee on Commerce and Labor
01/22/2007Impact statement from DPB (HB2819)
01/23/2007Assigned C & L sub: Financial Institutions (Dudley)
02/01/2007Read first time
02/02/2007Passed by for the day
02/03/2007Read second time
02/03/2007Committee amendment agreed to
02/03/2007Engrossment refused by House