Open-end loan plans; caps finance charges. (SB98)
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 imposed 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 »
Status
02/06/2012: Failed to Pass in Committee
History
| Date | Action |
|---|---|
| 01/09/2012 | Prefiled and ordered printed; offered 01/11/12 12101210D |
| 01/09/2012 | Referred to Committee on Commerce and Labor |
| 01/20/2012 | Assigned C&L sub: Payday Loans |
| 01/27/2012 | Impact statement from SCC (SB98) |
| 02/06/2012 | Passed by indefinitely in Commerce and Labor (11-Y 5-N) (see vote tally) |