WA People
BILL · 2015–16 SESSION · LATEST VERSION 2SHB 1922

HB 1922: Small loans

Addressing small loans and small consumer installment loans.

Summary

  • Creates a new small consumer installment loan regulated by the Department of Financial Institutions.
  • Permits a loan of up to $1,000 for a minimum of six months and a maximum of 12 months.
  • Allows an origination fee of 15 percent of the loaned amount, amortized over the life of the loan.
  • Allows an interest rate of 36 percent per annum.
  • Allows a maintenance fee of 7.5 percent of the total loaned amount per month with a maximum fee of $60 a month.
  • Provides for a repayment plan prior to any civil action upon a loan in default.

From the House Bill Report (HB 1922), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · stalled on the House floor
  1. IntroducedFeb 2, 2015
  2. Out of committeeFeb 27, 2015
  3. Passed Housestopped here
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Larry Springer (D-45)
Introduced
February 2, 2015 in the House
Last action
March 10, 2016
Companion bill
SB 5899
Budget
Has a fiscal note
Versions
HB 1922, SHB 1922, 2SHB 1922

AN ACT Relating to small loans and small consumer installment loans;

Sponsors

Prime sponsor: Larry Springer (D-45)

34 co-sponsors (16 Democrats, 18 Republicans)

Kristine Lytton D-40Christopher Hurst D-31Richard DeBolt R-20Jay Rodne R-5Senator D-22Steve Kirby D-29Jeff Morris D-40Tana Senn D-41Eric Pettigrew D-37Brian Blake D-19Judy Clibborn D-41Dean Takko D-19Drew MacEwen R-35Paul Harris R-17Derek Stanford D-1Shelly Short R-7Brandon Vick R-18Kevin Parker R-6J.T. Wilcox R-2Graham Hunt R-2Sharon Wylie D-49Liz Pike R-18Jim Moeller D-49Terry Nealey R-16Senator R-12Norm Johnson R-14Cary Condotta R-12Maureen Walsh R-16Susan Fagan R-9Vincent Buys R-42Joel Kretz R-7Sharon Tomiko Santos D-37Jake Fey D-27Mia Gregerson D-33

Votes

No recorded floor votes.

History

  1. By resolution, reintroduced and retained in present status. (2SHB 1922)
  2. By resolution, reintroduced and retained in present status. (SHB 1922)
  3. By resolution, reintroduced and retained in present status.
  4. By resolution, reintroduced and retained in present status. (2SHB 1922)
  5. By resolution, reintroduced and retained in present status. (SHB 1922)
  6. By resolution, reintroduced and retained in present status.
  7. By resolution, reintroduced and retained in present status. (2SHB 1922)
  8. By resolution, reintroduced and retained in present status. (SHB 1922)
  9. By resolution, reintroduced and retained in present status.
  10. By resolution, reintroduced and retained in present status. (2SHB 1922)
  11. By resolution, reintroduced and retained in present status. (SHB 1922)
  12. By resolution, reintroduced and retained in present status.
  13. By resolution, reintroduced and retained in present status. (2SHB 1922)
  14. By resolution, reintroduced and retained in present status. (SHB 1922)
  15. By resolution, reintroduced and retained in present status.
  16. Referred to Rules 2 Review. (2SHB 1922)
  17. Referred to Rules 2 Review. (SHB 1922)
  18. Referred to Rules 2 Review.
  19. Minority; do not pass. (2SHB 1922)
  20. GGIT - Majority; 2nd substitute bill be substituted, do pass. (2SHB 1922)
  21. GGIT - Majority; 2nd substitute bill be substituted, do pass. (SHB 1922)
  22. Minority; do not pass. (SHB 1922)
  23. Minority; do not pass.
  24. GGIT - Majority; 2nd substitute bill be substituted, do pass.
  25. Referred to General Government & Information Technology. (SHB 1922)
  26. Referred to General Government & Information Technology.
  27. Minority; do not pass. (SHB 1922)
  28. BFS - Majority; 1st substitute bill be substituted, do pass. (SHB 1922)
  29. BFS - Majority; 1st substitute bill be substituted, do pass.
  30. Minority; do not pass.
  31. BFS - Executive action taken by committee.
  32. First reading, referred to Business & Financial Services (Not Officially read and referred until adoption of Introduction report).

HB 1922 in other sessions

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

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