RI H5331 | 2023 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 10-0)
Status: Introduced on February 3 2023 - 25% progression, died in committee
Action: 2023-03-21 - Committee recommended measure be held for further study
Pending: House Corporations Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 3 2023 - 25% progression, died in committee
Action: 2023-03-21 - Committee recommended measure be held for further study
Pending: House Corporations Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Caps the APR for payday loans at 28%. Requires 90-day maturity date. Prohibits fees/interest payments in excess of 60% of principal. Requires monthly payments of no more than 25% of original principal amount.
Title
Check Cashing
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2023-03-21 | House | Committee recommended measure be held for further study |
| 2023-03-17 | House | Scheduled for hearing and/or consideration (03/21/2023) |
| 2023-02-03 | House | Introduced, referred to House Corporations |
Rhode Island State Sources
| Type | Source |
|---|---|
| Summary | https://status.rilegislature.gov/ |
| Text | https://webserver.rilegislature.gov/BillText23/HouseText23/H5331.pdf |
