Open-end loan plans; caps finance charges. (SB825)
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 |
---|---|
01/06/2011 | Prefiled and ordered printed; offered 01/12/11 11101288D |
01/06/2011 | Referred to Committee on Commerce and Labor |
01/16/2011 | Impact statement from SCC (SB825) |
01/24/2011 | Failed to report (defeated) in Commerce and Labor (6-Y 8-N) (see vote tally) |
01/31/2011 | Reconsidered by Commerce and Labor |
01/31/2011 | Passed by indefinitely in Commerce and Labor (9-Y 3-N 2-A) (see vote tally) |
Comments
edwards