Payday Loans; limiting interest to a maximum annual rate of 36 percent. (HB188)

Introduced By

Sen. Joe Morrissey (D-Richmond)

Progress

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

Description

Payday loans; permitted interest.  Repeals provisions of the Payday Loan Act that authorize lenders to charge a loan fee or verification fee, thereby limiting permissible charges on payday loans to simple interest at a maximum annual rate of 36 percent. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/07/2010Committee
01/07/2010Prefiled and ordered printed; offered 01/13/10 10101716D
01/07/2010Referred to Committee on Commerce and Labor
02/16/2010Left in Commerce and Labor

Duplicate Bills

The following bills are identical to this one: SB21.