Charges for supervised loans.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- House
- Latest action
- Mar 3, 2025
What it does
Provides that for a supervised loan that is made under the Uniform Consumer Credit Code (UCCC) and that: (1) is entered into after June 30, 2025; (2) is not secured by an interest in land or by personal property used or expected to be used as the debtor's principal dwelling; and (3) has a principal amount that does not exceed $5,000; a lender may contract for and receive, in addition to the loan finance charge and any other permitted charges and fees, a monthly service fee that is based on the amount of principal originally contracted for, and must report the borrower's payments on the supervised loan to at least one consumer reporting agency that compiles and maintains files on consumers…
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Done)
Floor (Current step)
Law (Needs attention)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
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