Payday loans; permitted interest. (SB138)

Introduced By

Sen. John Miller (D-Newport News)

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 »

Status

02/08/2010: Merged into SB250

History

DateAction
01/11/2010Prefiled and ordered printed; offered 01/13/10 10101898D
01/11/2010Referred to Committee on Commerce and Labor
02/08/2010Incorporated by Commerce and Labor (SB250-Reynolds) (15-Y 0-N) (see vote tally)