Virginia House Bill 1359 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on December 3 2012 - 25% progression, died in chamber
Action: 2013-01-22 - Tabled in Commerce and Labor by voice vote
Text: Latest bill text (Prefiled) [HTML]

Consumer finance companies; rate of interest. Adjusts the caps on the annual rate of interest that a consumer finance company may charge on loans. This measure allows a consumer finance company to charge interest at a rate not exceeding 78 percent annually on loans of not more than $1,500 and not exceeding 36 percent annually on loans of more than $1,500. Currently, a consumer finance company may charge interest at a rate not exceeding 36 percent annually on loans of not more than $2,500, and may charge interest at any rate agreed to in its contract with the borrower on loans of more than $2,500.

Consumer finance companies; rate of interest.

Del. Lee Ware [R]

Date	Chamber	Action
2013-01-22	House	Tabled in Commerce and Labor by voice vote
2012-12-03	House	Referred to Committee on Commerce and Labor
2012-12-03	House	Prefiled and ordered printed; offered 01/09/13 13101202D

Chapter	Article	Section	Citation Type	Statute Text
6	2	1520	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?131+sum+HB1359
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+HB1359+hil