BILL · 2005–06 SESSION

SB 5540: Credit/extortionate extensn

Expanding extortionate extension of credit.

Summary

For purposes of prosecution under the state criminal profiteering act, predatory payday lending constitutes an "extortionate extension of credit." Actions that fall into this category include loans made by licensees or unlicensed persons in violation of the "Military Best Practices" Act, or loans made as part of a "pattern of violations " of the payday lending statutes.

From the Senate Bill Report (SB 5540), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee

AN ACT Relating to extortionate extension of credit;

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

Jan 9, 2006By resolution, reintroduced and retained in present status.
Jan 27, 2005First reading, referred to Financial Institutions, Housing & Consumer Protection.

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

SB 5540 (2025–26) Students/unemployment ins. · Did not pass · stalled on the Senate floor
SB 5540 (2023–24) Medicaid reprocurement · Did not pass · died in committee
SB 5540 (2021–22) Election dates and timelines · Did not pass · died in committee
SB 5540 (2019–20) Projects of statewide signif · Did not pass · died in committee
SB 5540 (2017–18) Oral health pilot program · Did not pass · passed Senate, stalled in House
SB 5540 (2015–16) National day of the cowboy · Did not pass · stalled on the Senate floor
SB 5540 (2013–14) Health coverage/out-of-state · Did not pass · passed Senate, stalled in House
SB 5540 (2011–12) School bus safety cameras · Enacted · Chapter 375, Laws of 2011