Virginia Senate Bill 624 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on January 10 2018 - 25% progression, died in chamber
Action: 2018-01-29 - Passed by indefinitely in Commerce and Labor (8-Y 5-N)
Text: Latest bill text (Comm Sub) [HTML]

Open-end credit plans. Prohibits a person licensed as a motor vehicle title lender from extending credit under an open-end credit plan. The measure prohibits a person that extends credit under an open-end credit plan from (i) obtaining or accepting from a borrower an authorization to electronically debit the borrower's deposit account; (ii) failing to comply with certain restrictions and prohibitions applicable to debt collectors contained in the federal Fair Debt Collection Practices Act; (iii) making a loan to a borrower if the loan or extension would cause the borrower to have more than one loan under an open-end credit plan outstanding at the same time; and (iv) filing a legal proceeding against a borrower until 60 days after the date of default on an open-end credit plan, during which period the person and the borrower may voluntarily enter into a repayment arrangement. The measure makes these requirements applicable to any person that makes such an extension of credit over the Internet to Virginia residents or any individuals in Virginia. The measure also makes it a prohibited practice under the Virginia Consumer Protection Act to violate the requirements applicable to extending credit under an open-end credit plan.

Va. Consumer Protection Act; open-end credit plans.

Sen. Scott Surovell [D]

Sen. Richard Black [R]

Sen. Richard Saslaw [D]

2018-01-29 - Senate - Senate: Passed by indefinitely in Commerce and Labor (8-Y 5-N) (Y: 8 N: 5 NV: 0 Abs: 0) [PASS]
2018-01-22 - Senate - Senate: Rereferred from General Laws and Technology (8-Y 0-N) (Y: 8 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2018-01-29	Senate	Passed by indefinitely in Commerce and Labor (8-Y 5-N)
2018-01-29	Senate	Committee substitute printed to LIS only 18105184D-S1
2018-01-22	Senate	Rereferred to Commerce and Labor
2018-01-22	Senate	Rereferred from General Laws and Technology (8-Y 0-N)
2018-01-10	Senate	Referred to Committee on General Laws and Technology
2018-01-10	Senate	Prefiled and ordered printed; offered 01/10/18 18101725D

Chapter	Article	Section	Citation Type	Statute Text
59	1	200	(n/a)	See Bill Text
6	2	312	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+SB624
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+SB624+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+SB624S1+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?181+vot+S12V0022+SB0624
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?181+vot+S02V0058+SB0624