Open-end credit plans; prohibits a creditor from extending credit at an annual rate exceeding 36%. (HB404)

Introduced By

Del. Mark Levine (D-Alexandria) with support from co-patrons Del. Paul Krizek (D-Alexandria), and Del. Kathleen Murphy (D-McLean)

Progress

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

Description

Open-end credit plans. Prohibits a creditor from extending credit under an open-end credit plan at an annual rate that exceeds 36 percent unless the credit is extended by the seller of personal, family, or household goods for the sole purpose of financing the purchase price. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/05/2018Committee
01/05/2018Prefiled and ordered printed; offered 01/10/18 18103081D
01/05/2018Referred to Committee on Commerce and Labor
01/12/2018Impact statement from SCC (HB404)
01/30/2018Assigned C & L sub: Subcommittee #3
02/06/2018Subcommittee recommends passing by indefinitely (6-Y 2-N)
02/13/2018Left in Commerce and Labor