Introduced
by
To allow payday lenders to make “small loans” of up $2,500 for 90 days, subject to restrictions specified in the bill. These would be 90-day to one-year loans that are not secured by a future paycheck.
Referred to the Committee on Regulatory Reform
Reported without amendment
Refer to the Committee on Ways and Means with the recommendation that the substitute (H-3) be adopted.
Referred to the Committee on Ways and Means
Reported without amendment
With the recommendation that the substitute (H-5) be adopted and that the bill then pass.
Amendment offered
by
To tie-bar the bill to House Bill 4251, meaning this bill cannot become law unless that one does also. HB 4251 would cap the service fee that may be charged by a payday loan service at an annual percentage rate of 36 percent.
The amendment failed by voice vote
Amendment offered
by
To cap the annual percentage rate on payday loan "service fees" at 36 percent.
The amendment failed by voice vote
Amendment offered
by
To prescribe the factors that a payday loan service must consider in determining whether a borrower is financially capable of repaying a loan.
The amendment failed by voice vote
Amendment offered
by
To revise details in the disclosure statement potential borrowers must sign giving details of past loans.
The amendment failed by voice vote
Passed in the House 58 to 49 (details)
Referred to the Committee on Regulatory Reform
