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2012 SESSION

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SB 28 Payday loans; permitted interest.

Introduced by: Mamie E. Locke | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Payday loans; permitted interest. Removes provisions of the Payday Loan Act that authorize lenders to charge a loan fee or verification fee, thereby limiting permissible charges on payday loans to simple interest at a maximum annual rate of 36 percent.

FULL TEXT

• 12/28/11  Senate: Prefiled and ordered printed; offered 01/11/12 12102255D  pdf | impact statement

HISTORY

• 12/28/11  Senate: Prefiled and ordered printed; offered 01/11/12 12102255D
• 12/28/11  Senate: Referred to Committee on Commerce and Labor
• 01/20/12  Senate: Assigned C&L sub: Payday Loans
• 02/06/12  Senate: Passed by indefinitely in Commerce and Labor (11-Y 5-N)