RELATING TO LOANS.
Summary
Transitions from lump sum deferred deposit transactions to installment-based short-term loans. Specifies various consumer protection requirements for short-term loans, including interest and fee caps, allowable outstanding loans, a cooling-off period, and the right to rescind. Beginning 1/1/2022, requires persons operating as short-term loan companies to be licensed. Specifies licensing requirements for short-term loan companies.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2021
Committee Review
Floor Vote
Governor
Introduced Jan 26, 2021
Last action Feb 1, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Feb 1, 2021
Committee
Referred to CPC, FIN, referral sheet 3
lower
Jan 27, 2021
Introduced
Introduced and Pass First Reading.
lower
Jan 26, 2021
Introduced
Pending introduction.
lower
6 primary · 0 co-sponsors
Sponsors
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