Open-end credit plans. (HB1620)
Introduced By
Del. David Bulova (D-Fairfax) with support from co-patron Del. Sam Rasoul (D-Roanoke)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Open-end credit plans. Prohibits any person licensed to make motor vehicle title loans from engaging in the extension of credit under an open-end credit plan. The measure also prohibits a third party from engaging in the extension of credit under an open-end credit plan at any office, suite, room, or place of business where a person licensed to make payday loans or motor vehicle title loans conducts the business of making payday loans or motor vehicle title loans. Currently, licensed payday lenders are prohibited from extending credit under an open-end credit plan, and a third party is prohibited from extending credit under an open-end credit plan at a location where a licensed payday lender makes payday loans. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/03/2017 | Committee |
01/03/2017 | Prefiled and ordered printed; offered 01/11/17 17101493D |
01/03/2017 | Referred to Committee on Commerce and Labor |
01/06/2017 | Impact statement from SCC (HB1620) |
01/17/2017 | Assigned C & L sub: Special Sub-Consumer Lending |
01/26/2017 | Subcommittee recommends laying on the table |
02/08/2017 | Left in Commerce and Labor |