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