HB 332

Bill Subjects

Administrative Regulations And Proceedings Attorney General Banks And Financial Institutions Consumer Affairs Interest And Usury Loans And Credit

Abstract

Create a new section of KRS Chapter 367 to define terms; provide that an earned wage advance transaction shall not be deemed a loan; establish maximum consideration for earned wage advance transactions; prohibit soliciting or accepting any gift or gratuity in connection with an earned wage advance transaction; make violation an unfair, false, misleading, or deceptive trade practice in violation of KRS 367.170; establish remedies; authorize enforcement by the Attorney General; authorize the Attorney General to promulgate administrative regulations.