WA People
BILL · 2011–12 SESSION · LATEST VERSION 2SHB 1405

HB 1405: Loans/consumer loan act

Regulating loans made under the consumer loan act.

Summary

  • Modifies the Consumer Loan Act (CLA) exemption regarding loans made primarily for business, commercial, or agricultural purposes to except loans that are secured by a lien on the borrower's primary residence.
  • Allows the Director of the Department of Financial Institutions (Director) to waive licensing CLA provisions for persons servicing loans when the Director determines it necessary to facilitate commerce and protect consumers.
  • Creates additional prohibited practices.

From the Second Substitute House Bill Report (2SHB 1405), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 191, Laws of 2011
  1. IntroducedJan 20, 2011
  2. Out of committeeFeb 22, 2011
  3. Passed HouseMar 2, 2011
  4. Passed SenateApr 9, 2011
  5. GovernorApr 29, 2011
  6. LawApr 29, 2011
Prime sponsor
Steve Kirby (D-29)
Introduced
January 20, 2011 in the House
Last action
April 29, 2011
Session law
Chapter 191, Laws of 2011
Companion bill
SB 5303
Budget
Has a fiscal note
Versions
HB 1405, SHB 1405, 2SHB 1405

AN ACT Relating to loans made under the consumer loan act;

Sponsors

Prime sponsor: Steve Kirby (D-29)

6 co-sponsors (6 Democrats, 0 Republicans)

Troy Kelley D-28Connie Ladenburg D-29Jeannie Darneille D-27Cindy Ryu D-32Derek Stanford D-1Laurie Jinkins D-27

Votes

House · Final Passage

Passed March 2, 2011
Version voted on: 2SHB 1405
96 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat56000
Republican40002
How each member voted

Yea (96)

Excused (2)

Permalink to this vote

Senate · 3rd Reading & Final Passage as Amended by the Senate

Passed April 9, 2011
Version voted on: 2SHB 1405
47 Yea 2 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat27000
Republican20200
How each member voted
Permalink to this vote

House · Final Passage as Amended by the Senate

Passed April 14, 2011
Version voted on: 2SHB 1405
97 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat55001
Republican42000
How each member voted

Yea (97)

Excused (1)

Permalink to this vote

History

  1. Effective date 7/22/2011. (2SHB 1405)
  2. Chapter 191, 2011 Laws. (2SHB 1405)
  3. Governor signed. (2SHB 1405)
  4. Delivered to Governor. (2SHB 1405)
  5. President signed. (2SHB 1405)
  6. Speaker signed. (2SHB 1405)
  7. Passed final passage; yeas, 97; nays, 0; absent, 0; excused, 1. (2SHB 1405)
  8. House concurred in Senate amendments. (2SHB 1405)
  9. Third reading, passed; yeas, 47; nays, 2; absent, 0; excused, 0. (2SHB 1405)
  10. Rules suspended. Placed on Third Reading. (2SHB 1405)
  11. Floor amendment(s) adopted. (2SHB 1405)
  12. Placed on second reading by Rules Committee. (2SHB 1405)
  13. FIHI - Majority; do pass. (2SHB 1405)
  14. Passed to Rules Committee for second reading. (2SHB 1405)
  15. First reading, referred to Financial Institutions, Housing & Insurance. (2SHB 1405)
  16. Third reading, passed; yeas, 96; nays, 0; absent, 0; excused, 2. (2SHB 1405)
  17. Rules suspended. Placed on Third Reading. (2SHB 1405)
  18. 2nd substitute bill substituted. (2SHB 1405)
  19. 2nd substitute bill substituted. (SHB 1405)
  20. 2nd substitute bill substituted.
  21. Placed on second reading by Rules Committee. (2SHB 1405)
  22. Placed on second reading by Rules Committee. (SHB 1405)
  23. Placed on second reading by Rules Committee.
  24. Passed to Rules Committee for second reading. (2SHB 1405)
  25. Passed to Rules Committee for second reading. (SHB 1405)
  26. Passed to Rules Committee for second reading.
  27. APPG - Majority; 2nd substitute bill be substituted, do pass. (2SHB 1405)
  28. APPG - Majority; 2nd substitute bill be substituted, do pass. (SHB 1405)
  29. APPG - Executive action taken by committee. (SHB 1405)
  30. APPG - Majority; 2nd substitute bill be substituted, do pass.
  31. APPG - Executive action taken by committee.
  32. Referred to General Government Appropriations & Oversight. (SHB 1405)
  33. Referred to General Government Appropriations & Oversight.
  34. BFS - Majority; 1st substitute bill be substituted, do pass. (SHB 1405)
  35. BFS - Majority; 1st substitute bill be substituted, do pass.
  36. BFS - Executive action taken by committee.
  37. Referred to Business & Financial Services.
  38. Committee relieved of further consideration.
  39. First reading, referred to Community Development & Housing.

HB 1405 in other sessions

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

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