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2013 SESSION

• | print version

HB 1359 Consumer finance companies; rate of interest.

Introduced by: R. Lee Ware, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Consumer finance companies; rate of interest. Adjusts the caps on the annual rate of interest that a consumer finance company may charge on loans. This measure allows a consumer finance company to charge interest at a rate not exceeding 78 percent annually on loans of not more than $1,500 and not exceeding 36 percent annually on loans of more than $1,500. Currently, a consumer finance company may charge interest at a rate not exceeding 36 percent annually on loans of not more than $2,500, and may charge interest at any rate agreed to in its contract with the borrower on loans of more than $2,500.

FULL TEXT

• 12/03/12  House: Prefiled and ordered printed; offered 01/09/13 13101202D  pdf | impact statement

HISTORY

• 12/03/12  House: Prefiled and ordered printed; offered 01/09/13 13101202D
• 12/03/12  House: Referred to Committee on Commerce and Labor
• 01/22/13  House: Tabled in Commerce and Labor by voice vote