James H. Meyer
- Republican
Primary
Creates the Short-term Loan Act. Provides for the regulation of entities that make payday loans and motor vehicle title loans having a term of fewer than 93 days and in an amount that does not exceed $1,000. Limits charges that may be imposed in connection with the loans. Requires lenders to obtain a license from the Director of the Division of Financial Institutions in the Department of Financial and Professional Regulation. Amends the Financial Institutions Code to require the Director of the Division of Financial Institutions to establish a complaint registry regarding licensees under the Short-term Loan Act. Amends the Consumer Fraud and Deceptive Business Practices Act to provide that 3 or more violations of the Short-term Loan Act constitute a violation of the Consumer Fraud and Deceptive Business Practices Act. Effective January 1, 2006.
No votes to display
Session Sine Die
Rule 19(a) / Re-referred to Rules Committee
Added Chief Co-Sponsor Rep. Sandra M. Pihos
Assigned to Consumer Protection Committee
Filed with the Clerk by Rep. James H. Meyer
Referred to Rules Committee
First Reading
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