Consumer finance companies; annual reports. (SB167)

Introduced By

Sen. Scott Surovell (D-Mount Vernon) with support from co-patron Sen. Janet Howell (D-Reston)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Consumer finance companies; annual reports. Requires any consumer finance company that shares a location with a licensed motor vehicle title lender to file an annual report with the State Corporation Commission (SCC) that provides (i) information on the number of motor vehicles repossessed by the consumer finance company following a loan default by the borrower and (ii) the same types of information that the licensed motor vehicle title lender is required to include in its annual report to the SCC. Amends § 6.2-1534, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/30/2015Prefiled and ordered printed; offered 01/13/16 16100377D
12/30/2015Referred to Committee on Commerce and Labor
01/25/2016Impact statement from SCC (SB167)
01/25/2016Failed to report (defeated) in Commerce and Labor (6-Y 7-N 1-A) (see vote tally)