Virginia House Bill 187 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 7 2010 - 25% progression, died in committee
Action: 2010-02-16 - House: Left in Commerce and Labor
Pending: House Commerce and Labor Committee
Text: Latest bill text (Prefiled) [HTML]

Open-end lending; car title loans. Provides that extensions of credit under an open-end credit or similar plan by a seller or lender, under which interest currently may be charged at any rate on which the parties agree, may be made only by sellers of goods or services or by certain licensed or regulated financial institutions. The measure also authorizes such loans to be made by Consumer Finance Act licensees, who are prohibited from charging interest on such loans at a rate that exceeds 36 percent annually.

Open-end lending; provides extensions of credit secured by motor vehicle titles, caps interest.

Sen. Adam Ebbin [D]

Sen. Joseph Morrissey [D]

Date	Chamber	Action
2010-02-16		House: Left in Commerce and Labor
2010-01-07		House: Referred to Committee on Commerce and Labor
2010-01-07		House: Prefiled and ordered printed; offered 01/13/10 10101712D

Chapter	Article	Section	Citation Type	Statute Text
6	1	249	(n/a)	See Bill Text
6	1	272.1	(n/a)	See Bill Text
6	1	278	(n/a)	See Bill Text
6	1	285	(n/a)	See Bill Text
6	1	330.78	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?101+sum+HB187
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?101+ful+HB187+hil