HB15-1390

HB15-1390 - Consumer Credit Finance Charges

Inactive
Concerning An Increase In The Allowable Finance Charge For Certain Consumer Credit Transactions.

Current law limits the permissible finance charge on certain supervised loans and consumer credit sales based on the unpaid balances of the amount financed. The bill increases the applicable finance charge limits to:

  • 36% per year on an unpaid balance of the amount financed that is $3,000 or less (changed from $1,000 or less);
  • 21% per year on an unpaid balance of the amount financed that is more than $3,000 but less than $5,000 (changed from more than $1,000 but less than $3,000); and
  • 15% per year on an unpaid balance of the amount financed that is more than $5,000 (changed from more than $3,000).

Senate Committees

Latest update: June 4, 2015
06/04/2015 Governor Vetoed
05/18/2015 Sent to the Governor
05/18/2015 Signed by the President of the Senate
05/14/2015 Signed by the Speaker of the House
05/06/2015 Senate Third Reading Passed - No Amendments
05/05/2015 Senate Second Reading Special Order - Passed - No Amendments
05/05/2015 Senate Committee on Finance Refer Unamended to Senate Committee of the Whole
05/01/2015 Introduced In Senate - Assigned to Finance
05/01/2015 House Third Reading Passed - No Amendments
04/30/2015 House Second Reading Special Order - Passed - No Amendments
04/30/2015 House Committee on Business Affairs and Labor Refer Unamended to House Committee of the Whole
04/29/2015 Introduced In House - Assigned to Business Affairs and Labor

3rd Reading Vote Summary - HB15-1390*

House Vote Summary - May 01, 2015
Yes No Excused Absent
62 2 1 0
Senate Vote Summary - May 6, 2015
Yes No Excused Absent
20 15 0 0
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