SB 974 Hawaii Senate · 2022 Regular Session

RELATING TO CONSUMER PROTECTION.

Summary

Beginning 7/1/2023: provides for new viable installment-based small dollar loan transactions; specifies various consumer protection requirements for small dollar loans; requires licensure for small dollar lenders, subject to the oversight of the division of financial institutions of the department of commerce and consumer affairs; specifies licensing requirements for small dollar lenders; and caps the maximum allowable loan size at $1,500. Amends requirements for check cashers, including requiring check cashers to be licensed with the department of commerce and consumer affairs, to offer voluntary payment plans to consumers, and make various notice and disclosure requirements. Requires the division of financial institutions to conduct an analysis of the regulation of payday lenders and deferred deposit agreements and report to the legislature. Effective 7/1/2050. (HD1)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2021

Committee Review

Mar 2021

Senate Passage

Mar 2021

House Passage

Governor

Introduced Jan 27, 2021 Last action Dec 10, 2021

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 25, 2021

Committee

Reported from CPC (Stand. Com. Rep. No. 1514) as amended in HD 1, recommending passage on Second Reading and referral to FIN.

lower

Mar 24, 2021

Lower · Passed

The committees on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 11 Ayes: Representative(s) Johanson, Kitagawa, Aquino, Har, Hashem, Kong, Mizuno, Morikawa, Onishi, Tarnas, Matsumoto; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.

lower

Mar 11, 2021

Committee

Referred to CPC, FIN, referral sheet 22

lower

Mar 9, 2021

Introduced

Received from Senate (Sen. Com. No. 314) in amended form (SD 2).

lower

Mar 9, 2021

Upper · Passed

Report adopted; Passed Third Reading, as amended (SD 2). Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House.

upper

Feb 23, 2021

Upper · Passed

The committee(s) on JDC recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in JDC were as follows: 7 Aye(s): Senator(s) Rhoads, Keohokalole, Acasio, Gabbard, Kim, Lee, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Feb 23, 2021

Upper · Passed

The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 10 Aye(s): Senator(s) Dela Cruz, Keith-Agaran, English, Inouye, Kanuha, Kidani, Moriwaki, Shimabukuro, Taniguchi, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Wakai.

upper

Feb 19, 2021

Upper · Passed

The committee(s) on WAM/JDC will hold a public decision making on 02-23-21 10:35AM; CR 211 & Videoconference.

upper

Feb 12, 2021

Committee

Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM/JDC.

upper

Feb 12, 2021

Committee

Reported from CPN (Stand. Com. Rep. No. 169) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM/JDC.

upper

Feb 9, 2021

Upper · Passed

The committee(s) on CPN recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in CPN were as follows: 7 Aye(s): Senator(s) Baker, Chang, Misalucha, Nishihara, Riviere, San Buenaventura, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.

upper

Feb 5, 2021

Upper · Passed

The committee(s) on CPN has scheduled a public hearing on 02-09-21 9:30AM in conference room 229.

upper

Jan 29, 2021

Committee

Referred to CPN, WAM/JDC.

upper

Jan 27, 2021

Introduced

Introduced.

upper

2 primary · 0 co-sponsors