Payday lending charges; power of localities to regulate. (HB189)

Introduced By

Del. Bob Marshall (R-Manassas)

Progress

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

Description

Payday lending; power of localities to regulate. Authorizes each locality to establish (i) a maximum annual interest rate for payday loans made within its jurisdiction and (ii) the maximum number of payday loans that payday lenders operating within its jurisdiction may, in a calendar year, make to a borrower residing in the locality. References in the Payday Loan Act to the fee that may be charged on such loans are revised to refer to the interest that may be charged. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/26/2007Committee
12/26/2007Prefiled and ordered printed; offered 01/09/08 083008616
12/26/2007Referred to Committee on Commerce and Labor
02/05/2008Tabled in Commerce and Labor