PAYDAY LOAN-INTEREST RATE
Summary
Amends the Payday Loan Reform Act. Provides that no payday lender shall offer or make a consumer installment loan exceeding a double digit (99.99%) annual percentage rate from or upon the same location or premises as it offers or makes a payday loan. Provides that "payday loan" or "loan" means a loan with a finance charge exceeding a double digit (99.99%) annual percentage rate (instead of 36% for a term that does not exceed 120 days).
Bill status
failed
1 of 4 stages cleared
Introduction
Dec 2007
Committee Review
Floor Vote
Governor
Introduced Dec 21, 2007
Last action Jan 13, 2009
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
0
Committee
1
Jan 13, 2009
House · Failed
Session Sine Die
Dec 24, 2007
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Robert S. Molaro
DDemocratic
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