2006 Senate Bill 1162

Require lenders to postpone "outsourced worker's" loan principle repayment

Introduced in the Senate

March 16, 2006

Introduced by Sen. Deborah Cherry (D-26)

To require banks to defer the collection of principle payments on a car or home loan and collect interest only for 12 months if so requested by a borrower who is an "outsourced worker," or who has lost his or her job due to the bankruptcy of their employer.

Referred to the Committee on Banking and Financial Institutions