HB 530 -- CREDIT TRANSACTIONS (May, 108)

This bill clarifies which financial institutions' charges for
processing a refused instrument can be charged under a small
loan.

It also permits charging for a survey report and limits notary
fees in connection with a second mortgage loan.

FISCAL NOTE:  No impact on state funds.

HB 530 -- CREDIT TRANSACTIONS

CO-SPONSORS:  May (108), Liese

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Banks and Financial Institutions by a vote of 25 to 0.

This bill clarifies which financial institutions' charges for
processing a refused instrument can be charged under a small
loan.

It also permits charging for a survey report and limits notary
fees in connection with a second mortgage loan.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that this is just a clean-up bill.

Testifying for the bill were Representative May; and Household
International.

OPPONENTS:  There was no opposition voiced to the committee.

Bob Dominique, Legislative Analyst

HB 530 -- Credit

Co-Sponsors:  May (108), Liese

This bill clarifies which financial institutions' charges for
processing a refused instrument can be charged under a small
loan.

It also permits charging for a survey report and limits notary
fees in connection with a second mortgage loan.