Consumer Protection – HB 1911/SB 1736
SPONSORS: Rep. Mike Stewart, Sen. Beverly Marrero
SUMMARY: Specifies that the interest rate on any payday loan shall not exceed 100 percent. Defines “payday loan” as short-term cash loan or funds provided to an individual in anticipation of future receipt of wages.
THIS WEEK 4/25/11: Taken off notice in Senate Commerce, Labor & Agriculture; House General Subcommittee of Commerce deferred to summer study.
NOTE: This bill is done for this session.