VA SB28 | 2012 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 1-0)
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.

Tracking Information

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Title

Payday loans; permitted interest.

Sponsors


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

DateChamberAction
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

ChapterArticleSectionCitation TypeStatute Text
621816(n/a)See Bill Text
621817(n/a)See Bill Text
621818(n/a)See Bill Text

Virginia State Sources


Bill Comments

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