Open-end loan plans; caps finance charges and fees that may be charged on extension of credit. (SB20)
Introduced By
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Car title loans; finance charges. Caps the finance charges that a lender may charge on an open-end credit plan that is secured by a nonpurchase-money security interest in a motor vehicle at an annual rate of 36 percent. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
12/23/2009 | Prefiled and ordered printed; offered 01/13/10 10100304D |
12/23/2009 | Referred to Committee on Commerce and Labor |
02/08/2010 | Incorporated by Commerce and Labor (SB250-Reynolds) (15-Y 0-N) (see vote tally) |
02/15/2010 | Reconsidered by Commerce and Labor |
02/15/2010 | Failed to report (defeated) in Commerce and Labor (6-Y 9-N) (see vote tally) |
Comments
Why are we still dealing with these car title and payday loan guys? Didn't the General Assembly cap their interest rates a few years back? What a waste of my money to have the politicians lacking the political will to do the right thing.
Comments on SB20