Motor vehicle title loans, payday loans, and open-end credit plans; caps interest rate. (HB725)

Introduced By

Del. David Yancey (R-Newport News)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Motor vehicle title loans, payday loans, and open-end credit plans; interest rate.  Caps the rate of interest that may be charged on motor vehicle title loans, payday loans, and open-end credit plans at 36 percent per year. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2012Committee
01/11/2012Prefiled and ordered printed; offered 01/11/12 12101126D
01/11/2012Referred to Committee on Commerce and Labor
01/16/2012Impact statement from DPB (HB725)
02/02/2012Assigned C & L sub: #1
02/07/2012Subcommittee recommends no action
02/14/2012Left in Commerce and Labor (0-Y 0-N) (see vote tally)

Comments

VHC Admin writes:

This bill appears to have died in subcommittee -- with the Senate bills dead, this seems to end any possible action on predatory lending in this session