SB 254
Raises the fees a lender can charge for certain loans
Sponsor:
LR Number:
1380S.02T
Last Action:
7/12/2013 - Signed by Governor
Journal Page:
Title:
SCS SB 254
Calendar Position:
Effective Date:
August 28, 2013
House Handler:

Current Bill Summary

SCS/SB 254 - Currently, for an open-end credit contract that provides for open-end credit loans of 31 days or longer, the lender may charge a credit advance fee of the lesser of $25 or 5% of the credit advanced from the line of credit. This act raises the fee to $75 and 10% respectively.

This act is similar to HB 176 (2013).

CHRIS HOGERTY

Amendments