Payday loans; permitted interest. (SB189)
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 »
Status
01/25/2016: Incorporated into Another Bill
History
| Date | Action |
|---|---|
| 01/04/2016 | Prefiled and ordered printed; offered 01/13/16 16102202D |
| 01/04/2016 | Referred to Committee on Commerce and Labor |
| 01/12/2016 | Impact statement from SCC (SB189) |
| 01/25/2016 | Incorporated by Commerce and Labor (SB54-Locke) (14-Y 0-N) (see vote tally) |