BILL · 2023–24 SESSION

HB 2083: Payday lending/small loans

Making modifications to small loans under payday lending laws.

Summary

  • Modifies the maximum fee that may be charged for a small loan to no more than an annual percentage rate of 36 percent.
  • Modifies the definition of small loan to include advances of money or credit to be repaid from an asset or income, whether earned or to be earned, and whether the payee is made personally liable or the transaction carries required charges or payments.
  • Sets forth additional violations for lenders under the Check Cashers and Sellers Act.

From the House Bill Analysis 2024 (HB 2083), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 8, 2024
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Cindy Ryu (D-32)
Introduced
January 8, 2024 in the House
Last action
January 8, 2024
Budget
Has a fiscal note

AN ACT Relating to making modifications to small loans under payday lending laws;

Sponsors

Votes

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

History

  1. First reading, referred to Consumer Protection & Business.
  2. Prefiled for introduction.

HB 2083 in other sessions

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

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