Changes the laws regarding consumer credit interest rates

HB 1325 sets a 36% maximum annual percentage rate (APR) for short-term consumer loans of $500 or less, directly affecting lenders offering these loans and borrowers who take them out. Lenders must obtain a license (with a $600 annual fee per location) and clearly disclose the APR, cancellation rights, and loan terms, including a requirement to reduce principal by 5% with each renewal. The bill prohibits disguising loans to evade the APR cap (e.g., as property sales or cash rebates) and limits loan renewals to six times with a minimum 14-day and maximum 31-day term. It also mandates that lenders post the maximum APR visibly and provides penalties for violations, including license suspension or civil fines.