Payday loans; permitted interest. (SB186)
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
02/06/2012: Merged into SB28
History
Date | Action |
---|---|
01/10/2012 | Prefiled and ordered printed; offered 01/11/12 |
01/10/2012 | Prefiled and ordered printed; offered 01/11/12 12101643D |
01/10/2012 | Referred to Committee on Commerce and Labor |
01/20/2012 | Assigned C&L sub: Payday Loans |
01/24/2012 | Impact statement from DPB (SB186) |
02/06/2012 | Incorporated by Commerce and Labor (SB28-Locke) (16-Y 0-N) (see vote tally) |
Comments
The Virginia Housing Coalition supports this bill.