SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2018 SESSION
HB 466 Payday loans & motor vehicle title loans; purchase from federally chartered financial institution.
Introduced by: Lee J. Carter | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Payday loans; motor vehicle title loans; purchase from federally chartered financial institution. Prohibits a licensed payday lender or motor vehicle title lender (a licensee) from acquiring a payday loan or motor vehicle title loan from a federally chartered bank or savings institution if the terms of the loan would violate Virginia law if the loan was made by a licensee. The prohibition applies if the loan is made to a Virginia resident and if the licensee, under the terms of its purchase or acquisition of the loan, assumes or acquires rights of the federally chartered bank or savings institution as lender with respect to the loan. The measure provides that such a loan acquired by a licensee in violation of this prohibition is unenforceable against the borrower.
FULL TEXT
HISTORY
- 01/07/18 House: Prefiled and ordered printed; offered 01/10/18 18102090D
- 01/07/18 House: Referred to Committee on Commerce and Labor
- 01/30/18 House: Assigned C & L sub: Subcommittee #3
- 02/06/18 House: Subcommittee recommends passing by indefinitely (6-Y 1-N)
- 02/13/18 House: Left in Commerce and Labor