Payday lending charges; establishes maximum annual interest rate. (HB249)
Introduced By
Del. John O'Bannon (R-Richmond)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
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. Read the Bill »
Status
02/05/2008: Merged into HB12
History
Date | Action |
---|---|
12/28/2007 | Committee |
12/28/2007 | Prefiled and ordered printed; offered 01/09/08 080097664 |
12/28/2007 | Referred to Committee on Commerce and Labor |
01/23/2008 | Impact statement from SCC (HB249) |
02/05/2008 | Incorporated by Commerce and Labor (HB12-Oder) |
Comments
AARP Supports