Payday Loan Act; requires SCC to contract with one or more parties to develop, etc. database. (HB1505)

Introduced By

Del. Sam Nixon (R-Richmond) with support from co-patron Del. Kathy Byron (R-Lynchburg)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Payday Loan Act; database. Requires the State Corporation Commission, by January 1, 2009, to certify and contract with one or more third parties to develop, implement, and maintain an Internet-accessible database, and requires payday lenders to query the database prior to making any loan to determine whether an applicant is eligible for the loan. A fee of not more than $1 may be charged to defray the costs of using the database. The proceeds from the fees shall be used only for the payment of the expenses of the administration of the Payday Loan Act and of the performance of other functions of the Bureau of Financial Institutions. Read the Bill »


02/12/2008: In Committee


01/17/2008Presented and ordered printed 088817656
01/17/2008Referred to Committee on Commerce and Labor
01/24/2008Impact statement from SCC (HB1505)
02/05/2008Reported from Commerce and Labor with amendment (21-Y 0-N) (see vote tally)
02/07/2008Read first time
02/08/2008Read second time
02/08/2008Committee amendment agreed to
02/08/2008Engrossed by House as amended HB1505E
02/08/2008Printed as engrossed 088817656-E
02/11/2008Read third time and passed House BLOCK VOTE (96-Y 0-N)
02/11/2008VOTE: BLOCK VOTE PASSAGE (96-Y 0-N) (see vote tally)
02/11/2008Reconsideration of passage agreed to by House
02/11/2008Passed House BLOCK VOTE (98-Y 0-N)
02/11/2008VOTE: BLOCK VOTE PASSAGE #2 (98-Y 0-N) (see vote tally)
02/11/2008Communicated to Senate
02/12/2008Constitutional reading dispensed
02/12/2008Referred to Committee on Commerce and Labor
02/13/2008Impact statement from SCC (HB1505E)
03/03/2008Passed by for the day in Commerce and Labor