A bill for an act relating to delayed deposit services by limiting the annual percentage rate for fees and requiring a delayed deposit repayment option in certain circumstances, and making penalties applicable.

HF 2039 caps the annual interest rate for delayed deposit services (like check-cashing loans) at 10% and creates a repayment option for borrowers. It requires providers to offer an extended repayment plan if a borrower gets more than four loans from the same provider within two months, allowing them to pay in at least four equal installments. During this plan, providers cannot collect debt, charge penalties, or add fees, and must return postdated checks. Violations could result in administrative fines of up to $5,000 per incident. This bill directly affects borrowers using delayed deposit services and the providers offering them.