Open-end lending by banks, savings institutions, etc.; determining grace period. (SB859)
Introduced By
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Open-end lending by banks and savings institutions; credit cards; grace period. Adjusts the period used in determining whether a borrower has repaid his open-end credit card balance in full and therefore is exempt from a finance charge on purchases of merchandise or services. The measure provides that the lender shall not impose a finance charge if payment in full of the unpaid balance owing for extensions of credit is received prior to the next payment due date and requires the next payment due date to be at least 25 days after the prior payment due date. Under existing law, the billing date, rather than the payment due date, applies. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/07/2015 | Prefiled and ordered printed; offered 01/14/15 15102326D |
01/07/2015 | Referred to Committee on Commerce and Labor |
01/13/2015 | Impact statement from SCC (SB859) |
01/19/2015 | Reported from Commerce and Labor with substitute (14-Y 0-N) (see vote tally) |
01/19/2015 | Committee substitute printed 15103930D-S1 |
01/21/2015 | Impact statement from SCC (SB859S1) |
01/21/2015 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
01/22/2015 | Read second time |
01/22/2015 | Reading of substitute waived |
01/22/2015 | Committee substitute agreed to 15103930D-S1 |
01/22/2015 | Passed by for the day |
01/23/2015 | Read second time |
01/23/2015 | Engrossed by Senate - committee substitute SB859S1 |
01/26/2015 | Read third time and passed Senate (39-Y 0-N) (see vote tally) |
01/30/2015 | Placed on Calendar |
01/30/2015 | Read first time |
01/30/2015 | Referred to Committee on Commerce and Labor |
02/10/2015 | Reported from Commerce and Labor with substitute (22-Y 0-N) (see vote tally) |
02/10/2015 | Committee substitute printed 15104994D-H1 |
02/11/2015 | Read second time |
02/12/2015 | Read third time |
02/12/2015 | Committee substitute agreed to 15104994D-H1 |
02/12/2015 | Engrossed by House - committee substitute SB859H1 |
02/12/2015 | Passed House with substitute (98-Y 0-N 1-A) |
02/12/2015 | VOTE: PASSAGE (98-Y 0-N 1-A) (see vote tally) |
02/16/2015 | House substitute agreed to by Senate (38-Y 0-N) (see vote tally) |
02/16/2015 | Title replaced 15104994D-H1 |
02/16/2015 | Impact statement from SCC (SB859H1) |
02/18/2015 | Enrolled |
02/18/2015 | Bill text as passed Senate and House (SB859ER) |
02/18/2015 | Impact statement from SCC (SB859ER) |
02/18/2015 | Signed by Speaker |
02/20/2015 | Signed by President |
02/23/2015 | G Governor's Action Deadline Midnight, Monday, March 30, 2015 |
02/23/2015 | Enrolled Bill Communicated to Governor on 2/23/15 |
02/23/2015 | G Governor's Action Deadline Midnight, Sunday, March 29, 2015 |
03/23/2015 | G Approved by Governor-Chapter 453 (effective 7/1/15) |
03/23/2015 | G Acts of Assembly Chapter text (CHAP0453) |