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2017 SESSION

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HB 1817 Consumer finance loans; rate of interest.

Introduced by: C.E. Cliff Hayes, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Consumer finance loans; rate of interest. Increases, from $2,500 to $4,000, the threshold under which consumer finance loans are subject to a maximum interest rate of 36 percent per year. Under this measure, a licensed consumer finance lender may charge interest (i) of not more than 36 percent on loans of $4,000 or less and (ii) at such rate as is stated in the loan contract on loans of more than $4,000.


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