Loans; maximum amount of interest and fees permitted. (HB1324)
Introduced By
Sen. Lamont Bagby (D-Richmond) with support from co-patrons Del. Patrick Hope (D-Arlington), Del. Kaye Kory (D-Falls Church), Del. Joe Lindsey (D-Norfolk), and Del. Marcus Simon (D-Falls Church)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Maximum interest and fees on loans. Caps the amount of fees and interest that a lender may collect on a payday loan, car title loan, open-end credit plan loan, and consumer finance loan at 500 percent of the principal loan amount. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/21/2016 | Committee |
01/21/2016 | Presented and ordered printed 16104095D |
01/21/2016 | Referred to Committee on Commerce and Labor |
01/25/2016 | Impact statement from SCC (HB1324) |
01/26/2016 | Assigned to sub: Special Sub-Consumer Lending |
01/26/2016 | Assigned C & L sub: Special Sub-Consumer Lending |
02/04/2016 | Subcommittee recommends laying on the table (7-Y 0-N) |
02/16/2016 | Left in Commerce and Labor |