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An Act Relating to Financial Institutions -- Licensed Activities

It became law on Jul 1, 2025.

RI HB 5042 · House Bill · 2025

Stage: Became law
Started in: House
Sponsors: 10
Latest action: Jul 1, 2025

What it does

Repeals the provisions of the general laws allowing deferred deposit providers, also known as "payday lenders."

Read the full text

Where it stands

This bill passed and is now law.

Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
Jul 1, 2025

What moved

Who is involved

Sponsors

The lawmakers who put their names on it, lead sponsors first.

Brian NewberryLead sponsor
Cherie CruzLead sponsor
David MoralesLead sponsor
Grace DiazLead sponsor
Jennifer StewartLead sponsor
John LombardiLead sponsor
Jose BatistaLead sponsor
Joshua GiraldoLead sponsor
Karen AlzateLead sponsor
Katie KazarianLead sponsor

In the news

Reporting that may mention this subject. Possible matches are labeled.

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Where it goes next

Once a bill is decided, the questions are about what is done with it in Rhode Island.

What an agency writes to carry it outAn agency's name on a lobbying report is not a rulemaking.
Which court can stay or strike itAn opinion listed here is not yet tied to the law it reviewed.
How the place it governs is doingBecoming law is not the result. A number moving is not proof the law moved it.

Work with this bill

AN ACT RELATING TO FINANCIAL INSTITUTIONS -- LICENSED ACTIVITIES | 52