VA SB28 | 2012 | Regular Session
Status
Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on December 28 2011 - 25% progression, died in chamber
Action: 2012-02-06 - Senate: Passed by indefinitely in Commerce and Labor (11-Y 5-N)
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on December 28 2011 - 25% progression, died in chamber
Action: 2012-02-06 - Senate: Passed by indefinitely in Commerce and Labor (11-Y 5-N)
Text: Latest bill text (Prefiled) [HTML]
Summary
Payday loans; permitted interest. Removes provisions of the Payday Loan Act that authorize lenders to charge a loan fee or verification fee, thereby limiting permissible charges on payday loans to simple interest at a maximum annual rate of 36 percent.
Title
Payday loans; permitted interest.
Sponsors
| Sen. Mamie Locke [D] |
Roll Calls
2012-02-06 - Senate - Senate: Passed by indefinitely in Commerce and Labor (11-Y 5-N) (Y: 11 N: 5 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2012-02-06 | Senate: Passed by indefinitely in Commerce and Labor (11-Y 5-N) | |
| 2012-01-20 | Senate: Assigned C&L sub: Payday Loans | |
| 2011-12-28 | Senate: Referred to Committee on Commerce and Labor | |
| 2011-12-28 | Senate: Prefiled and ordered printed; offered 01/11/12 12102255D |
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 6 | 2 | 1816 | (n/a) | See Bill Text |
| 6 | 2 | 1817 | (n/a) | See Bill Text |
| 6 | 2 | 1818 | (n/a) | See Bill Text |
