Hawaii House Bill 1883 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 21 2020 - 25% progression, died in committee
Action: 2020-01-23 - Referred to IAC, CPC, FIN, referral sheet 3
Pending: House Intrastate Commerce Committee
Text: Latest bill text (Introduced) [HTML]

Transitions from lump sum deferred deposit transactions to installment-based small dollar loan transactions. Specifies various consumer protection requirements for small dollar loans. Beginning 1/1/2022, requires licensure for small dollar lenders that offer small dollar loans to consumers. Specifies licensing requirements for small dollar lenders. Authorizes the division of financial institutions to appoint 2.0 FTE examiner positions, funded via the compliance resolution fund, to carry out the purposes of the small dollar installment loan program. Requires check cashers to be registered with DCCA and to offer a voluntary payment plan to customers under certain circumstances. Establishes the terms of voluntary payment plans. Clarifies that a customer may only have one outstanding deferred deposit transaction from any source. Amends notices to customers required of check cashers. Removes the exemption for persons engaged in the bona fide retail sale of goods or services. Requires the division of financial institutions of the department of commerce and consumer affairs to conduct an analysis of the regulation of payday lenders and deferred deposit agreements in the State. Effective July 1, 2021.

Relating To Consumer Protection.

Rep. Roy Takumi [D]

Rep. Linda Ichiyama [D]

Date	Chamber	Action
2020-01-23	House	Referred to IAC, CPC, FIN, referral sheet 3
2020-01-21	House	Introduced and Pass First Reading.
2020-01-17	House	Pending introduction.

SB2587 (Same As) 2020-03-16 - This measure has been deleted from the meeting scheduled on Tuesday 03-17-20 2:00PM in conference room 329.

Type	Source
Summary	https://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=HB&billnumber=1883&year=2020
Text	https://www.capitol.hawaii.gov/session2020/bills/HB1883_.HTM