Hawaii Senate Bill 2028 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 9-0)
Status: Introduced on January 17 2018 - 25% progression, died in committee
Action: 2018-01-19 - Referred to CPH.
Pending: Senate Commerce, Consumer Protection, and Health Committee
Text: Latest bill text (Introduced) [HTML]

Specifies a customer has the right to rescind a deferred deposit by returning the principal amount used to fund the deferred deposit within a specified time frame. Permits customers to convert a deferred deposit into an installment loan plan in certain circumstances and specifies requirements for the installment loan plan. Protects against harmful collection practices. Defines annual percentage rate. Requires a check casher to post a notice informing customers that additional options may be available for safe, regulated, lower-cost, small dollar loans. Requires a check casher to provide a written agreement to a customer that clearly discloses specific information relating to the cost and fees associated with the deferred deposit, among other things. Caps the annual percentage rate at thirty-six per cent for deferred deposit of a personal check. Permits prepayment of deferred deposit agreements with no additional fees.

Relating To Check Cashing.

Sen. Josh Green [D]	Sen. Karl Rhoads [D]	Sen. Stanley Chang [D]	Sen. Donovan Cruz [D]
Sen. Les Ihara [D]	Sen. Gil Keith-agaran [D]	Sen. Michelle Kidani [D]	Sen. Maile Shimabukuro [D]
Sen. Laura Thielen [D]

Date	Chamber	Action
2018-01-19	Senate	Referred to CPH.
2018-01-17	Senate	Introduced and passed First Reading.
2018-01-16	Senate	Pending Introduction.

Type	Source
Summary	https://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=SB&billnumber=2028&year=2018
Text	https://www.capitol.hawaii.gov/session2018/bills/SB2028_.HTM