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HB 2561 Oregon House · 2025 Regular Session

Relating to consumer finance loans; prescribing an effective date.

Summary
Declares that this state does not want the amendments set forth in section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 to apply to consumer finance loans made in this state. Specifies persons to whom the consumer finance laws of this state apply and circumstances in which the laws apply. Specifies the requirements for an application for a license to make consumer finance loans in this state. Takes effect on the 91st day following adjournment sine die.
Bill status passed 3 of 5 stages cleared
Introduction
Jan 2025
Committee Review
Jun 2025
House Passage
Feb 2025
Senate Passage
Governor
Introduced Jan 13, 2025 Last action Jun 28, 2025
Maddy AI version diff · 1 comparison

What changed between versions

Introduced → A-Engrossed · 4 edits · Feb 27, 2025
MODERATE
This bill updates Oregon's consumer finance loan laws to clarify when the state's regulations apply, specifically by removing a requirement that consumers must be physically present in Oregon to make payments on loans. It also adds a new Oregon Revised Statute (ORS 725.370) governing consumer finance loans, expanding the state's regulatory framework for these financial products.
Scope change
The bill expands the scope of Oregon's consumer finance loan regulations by clarifying that loans apply to consumers who reside in Oregon regardless of where loan negotiations or payments occur, and by adding new provisions for ORS 725.370.
SCOPE

Removed the requirement that consumers must be physically present in Oregon to negotiate, agree to terms, or execute contracts for consumer finance loans, broadening the state's jurisdiction over loans involving Oregon residents.

ELIGIBILITY

Consolidated the criteria for when a person is subject to the consumer finance loan chapter, removing separate conditions for payment location and combining them into a single requirement that the consumer resides in Oregon.

REQUIREMENT

Added a new section (ORS 725.370) to the Oregon Revised Statutes governing consumer finance loans, expanding the regulatory framework for these financial products.

TECHNICAL

Updated the bill's title and effective date provisions to reflect the new statutory additions, including ORS 725.370 in the list of amended statutes.

Floor votes · House Feb 27, 2025

How they voted

31–23
Passed · 4 other
Total votes 58
Feb 27, 2025
D Democratic35
31 Yea 2 Nay 2
88% Yea
R Republican23
21 Nay 2
91% Nay
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
11
Key actions
3
Committee
4
Jun 28, 2025
Upper · Passed
In committee upon adjournment.
upper
Mar 4, 2025
Committee
Referred to Labor and Business.
upper
Mar 4, 2025
Introduced
First reading. Referred to President's desk.
upper
Feb 27, 2025
Introduced
Vote explanation(s) filed by Grayber.
lower
Feb 27, 2025
Lower · Passed
Third reading. Carried by Sosa. Passed.
lower
Feb 21, 2025
Lower · Passed
Recommendation: Do pass with amendments and be printed A-Engrossed.
lower
Jan 17, 2025
Committee
Referred to Commerce and Consumer Protection.
lower
Jan 13, 2025
Introduced
First reading. Referred to Speaker's desk.
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.