Open-end loan plans; caps finance charges and fees that may be charged on extension of credit. (SB167)
Introduced By
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Open-end loan plans; finance charges. Caps the finance charges and other charges and fees that may be charged on extension of credit under certain open-end credit plans at an annual rate of 36 percent if the maximum amount that may be advanced under the plan does not exceed $2,500. If the maximum amount that may be advanced exceeds $2,500, the lender may impose finance charges and other charges and fees at such rates and in such amounts as the parties may agree. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/11/2010 | Prefiled and ordered printed; offered 01/13/10 10100297D |
| 01/11/2010 | Referred to Committee on Commerce and Labor |
| 01/19/2010 | Impact statement from SCC (SB167) |
| 02/08/2010 | Failed to report (defeated) in Commerce and Labor (5-Y 9-N 1-A) (see vote tally) |