WA People
BILL · 2005–06 SESSION

HB 2018: Small loan limits

Placing limits on the amount, interest, and fees for small loans.

Summary

  • Reduces the total amount a payday lender may loan to a borrower at any one time from $700 to $500.
  • Reduces the interest rate, and maximum interest and fees, that may be charged by a payday lender to a borrower to 3 percent a month of the outstanding principal of the loan.

From the House Bill Analysis (HB 2018), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedFeb 15, 2005
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Shay Schual-Berke (D-33)
Introduced
February 15, 2005 in the House
Last action
January 9, 2006

AN ACT Relating to the limits on the amount, interest, and fees for small loans;

Sponsors

Prime sponsor: Shay Schual-Berke (D-33)

27 co-sponsors (27 Democrats, 0 Republicans)

Eric Pettigrew D-37Phyllis Gutierrez Kenney D-46Ruth Kagi D-32Mary Lou Dickerson D-36Eileen Cody D-34Steve Conway D-29Jeannie Darneille D-27Joe McDermott D-34Lynn Kessler D-24Tami Green D-28John Lovick D-44Dennis Flannigan D-27Zack Hudgins D-11Senator D-22Bob Hasegawa D-11Dawn Morrell D-25Al O'Brien D-1Jim Moeller D-49Maralyn Chase D-32Brian Sullivan D-21Dave Quall D-40Jim McIntire D-46Pat Sullivan D-47Timm Ormsby D-3Steve Kirby D-29Mark Ericks D-1Dave Upthegrove D-33

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. First reading, referred to Financial Institutions & Insurance.

HB 2018 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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