Bill Title: Prohibits foreign banking corporations from issuing payday loans; defines payday loans as any transaction in which a short-term cash advance is made to a consumer in exchange for (i) a consumer's personal check or share draft, in the amount of an advance plus a fee, where presentment or negotiation of such check or share draft is deferred by agreement of the parties until a designated future date; or (ii) a consumer's authorization to debit the consumer's transaction account, in the amount of the advance plus a fee, where such account will be debited on or after a designated future date.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2016-03-21 - referred to banks [A09603 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Assemblymember Alicia Hyndman [D]	Primary	Sponsored Bills	HD-029	FollowTheMoney	Ballotpedia	VoteSmart
Assemblymember Pamela Hunter [D]	Cosponsor	Sponsored Bills	HD-128	FollowTheMoney	Ballotpedia	VoteSmart

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