Payday loans; permitted interest. (SB933)
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 »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 01/10/2011 | Prefiled and ordered printed; offered 01/12/11 11102408D |
| 01/10/2011 | Referred to Committee on Commerce and Labor |
| 01/17/2011 | Failed to report (defeated) in Commerce and Labor (4-Y 10-N) (see vote tally) |
Comments
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