Payday loans; permitted interest. (SB945)

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. 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 interest at a maximum annual rate of 36 percent. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2015Prefiled and ordered printed; offered 01/14/15 15101188D
01/09/2015Referred to Committee on Commerce and Labor
01/16/2015Impact statement from SCC (SB945)
01/19/2015Failed to report (defeated) in Commerce and Labor (2-Y 11-N 1-A) (see vote tally)