Sign Up
HB 181 Delaware House · 151st General Assembly (2021-2022)

AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO INTEREST RATES ON LOANS TO INDIVIDUALS.

Summary
Delaware is one of a handful of states that has no cap other than unconscionability on interest rates for short-term consumer loans. Under Delaware case law, the unconscionability of an interest rate is decided by a court on a case by case basis. This Act caps interest rates at 20% for short-term consumer loans of $1,000 or less that must be repaid in less than 60 days and motor vehicle title loans. This Act also makes technical corrections to conform existing law to the standards of the Delaware Legislative Drafting Manual.
Bill status in committee 1 of 4 stages cleared
Introduction
May 2021
Committee Review
Floor Vote
Governor
Introduced May 11, 2021 Last action Jun 8, 2022
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
2
Key actions
1
Committee
1
Jun 8, 2022
Lower · Passed
Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 3 Favorable, 2 On Its Merits, 2 Unfavorable
lower
May 11, 2021
Introduced
Introduced and Assigned to Economic Development/Banking/Insurance & Commerce Committee in House
lower
5 primary · 8 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Kim Williams
Kim Williams
DDemocratic
DE
19
P
Photo of Marie Pinkney
Marie Pinkney
DDemocratic
DE
13
P
Photo of Sean Lynn
Sean Lynn
DDemocratic
DE
31
P
Photo of Sherry Dorsey Walker
Sherry Dorsey Walker
DDemocratic
DE
3
P
Photo of Tizzy Lockman
Tizzy Lockman
DDemocratic
DE
3
Co
BC
Bruce C. Ennis
DDemocratic
DE
14
Co
Photo of Dave Sokola
Dave Sokola
DDemocratic
DE
8
Co
Photo of Debra Heffernan
Debra Heffernan
DDemocratic
DE
6
Co
Photo of Eric Morrison
Eric Morrison
DDemocratic
DE
27
Co
JA
John A. Kowalko
DDemocratic
DE
25
Co
Photo of Larry Lambert
Larry Lambert
DDemocratic
DE
7
Co
Photo of Madinah Wilson-Anton
Madinah Wilson-Anton
DDemocratic
DE
26
Co
Photo of Stephanie Hansen
Stephanie Hansen
DDemocratic
DE
10