WA People
BILL · 2007–08 SESSION

SB 6471: Loan regulations

Protecting consumers by regulating loans under the consumer loan act and mortgage broker practices act.

Summary

  • Requires certain mortgage lenders to be licensed under the Consumer Loan Act (CLA).
  • Expands the application of the CLA to loans which do not exceed the rate established by the usury law.

From the House Bill Report (SB 6471), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 78, Laws of 2008
  1. IntroducedJan 17, 2008
  2. Out of committeeJan 28, 2008
  3. Passed SenateFeb 19, 2008
  4. Passed HouseMar 6, 2008
  5. GovernorMar 19, 2008
  6. LawMar 19, 2008
Prime sponsor
Brian Weinstein (D-41)
Introduced
January 17, 2008 in the Senate
Last action
March 19, 2008
Session law
Chapter 78, Laws of 2008
Budget
Has a fiscal note

AN ACT Relating to protecting consumers by regulating loans under the consumer loan act and mortgage broker practices act;

Sponsors

Prime sponsor: Brian Weinstein (D-41)

7 co-sponsors (7 Democrats, 0 Republicans)

Claudia Kauffman D-47Rodney Tom D-48Darlene Fairley D-32Rosemary McAuliffe D-1Jeanne Kohl-Welles D-36Karen Keiser D-33Adam Kline D-37

Votes

Senate · 3rd Reading & Final Passage

Passed February 19, 2008
Version voted on: SB 6471
47 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat30002
Republican17000
How each member voted

Yea (47)

Excused (2)

Permalink to this vote

House · Final Passage

Passed March 6, 2008
Version voted on: SB 6471
93 Yea 0 Nay 0 Absent 5 Excused
PartyYeaNayAbsentExcused
Democrat61002
Republican32003
How each member voted

Yea (93)

Permalink to this vote

History

  1. Effective date 6/12/2008.
  2. Chapter 78, 2008 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. Speaker signed.
  6. President signed.
  7. Third reading, passed; yeas, 93; nays, 0; absent, 0; excused, 5.
  8. Rules suspended. Placed on Third Reading.
  9. Rules Committee relieved of further consideration. Placed on second reading.
  10. APP - Executive action taken by committee.
  11. Passed to Rules Committee for second reading.
  12. APP - Majority; do pass.
  13. Referred to Appropriations.
  14. IFCP - Majority; do pass.
  15. IFCP - Executive action taken by committee.
  16. First reading, referred to Insurance, Financial Services & Consumer Protection.
  17. Third reading, passed; yeas, 47; nays, 0; absent, 0; excused, 2.
  18. Rules suspended. Placed on Third Reading.
  19. Placed on second reading by Rules Committee.
  20. And refer to Ways & Means.
  21. CPH - Majority; do pass.
  22. On motion, referred to Rules.
  23. First reading, referred to Consumer Protection & Housing.

SB 6471 in other sessions

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

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