House Bill #5331 (2023)

AN ACT RELATING TO FINANCIAL INSTITUTIONS -- CHECK CASHING

Caps the APR for payday loans at 28%. Requires 90-day maturity date. Prohibits fees/interest payments in excess of 60% of principal. Requires monthly payments of no more than 25% of original principal amount.

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• 2023-02-03: Introduced, referred to House Corporations
• 2023-03-17: Scheduled for hearing and/or consideration (03/21/2023) [Show]
• 2023-03-21: Committee recommended measure be held for further study

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