US Enacted Payday Lending Legislation Resources – 2006 Session in United States
US Enacted Payday Lending Legislation Resources – 2006 Session
| State: | Bill Summary: |
| Florida | H.B. 7061 Signed by governor 6/12/06, Chapter 189 Amends a specified provision which provides an exemption from public records requirements for information that identifies the drawer or deferred presentment provider contained in database for said providers maintained by the Financial Regulation Office of the Financial Services Commission. |
| Maine | L.D. 2076 Signed by governor 4/27/06, Chapter 604 Defines “payday loan” and also clarifies that the Maine Consumer Credit Code applies to a payday lender, wherever located, that makes a payday loan to a consumer located in this state. |
| Nebraska | L.B. 876 Signed by governor 4/6/06 Amends the Delayed Deposit Services Licensing Act. |
| Oregon | S.B. 1105, First Special Session Signed by governor 4/26/06, Chapter 3 Limits the maximum rate of interest on payday loans. Limits the amount of the loan origination fee. Sets a minimum 31-day loan term for payday loans. Prohibits charges other than interest, origination fee and fee for dishonored check or insufficient funds. Prohibits renewal of payday loan more than two times. Prohibits a lender from making a new payday loan to a consumer within seven days of expiration of the previous payday loan. Limits the amount of the fee for a dishonored check or insufficient funds. Prohibits recovery of statutory damages and attorney fees from consumer for dishonored check. Grants rulemaking authority to the director of the Department of Consumer and Business Services. |
| South Dakota | H.B. 1209 Signed by governor 3/21/06 Revises certain provisions regarding money lending, including payday loans. |
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