Payday loans; permitted interest. (SB28)
Introduced By
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Payday loans; permitted interest. Removes 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: Failed to Pass in Committee
History
| Date | Action |
|---|---|
| 12/28/2011 | Prefiled and ordered printed; offered 01/11/12 12102255D |
| 12/28/2011 | Referred to Committee on Commerce and Labor |
| 01/20/2012 | Assigned C&L sub: Payday Loans |
| 01/30/2012 | Impact statement from DPB (SB28) |
| 02/06/2012 | Passed by indefinitely in Commerce and Labor (11-Y 5-N) (see vote tally) |