Relating to a restriction on total charges charged for extensions of consumer credit that a credit services organization obtains for a consumer or assists a consumer in obtaining.

HB 1350 limits the total cost of short-term credit extensions to a 36% annual interest rate, including all fees and charges (like interest, lender fees, and other costs) imposed by credit services organizations. It directly affects consumers who use these organizations to obtain or extend credit, as well as the credit services organizations themselves. The bill requires that all such charges be included when calculating the annual percentage rate (APR), effectively capping the total cost of these credit extensions. The law takes effect September 1, 2025, and applies only to extensions made on or after that date.