2007 House Bill 4645

Impose regulation on tax refund anticipation loan providers

Introduced in the House

April 24, 2007

Introduced by Rep. Steve Tobocman (D-12)

To impose state licensure and regulation on providers of tax refund anticipation loans. The bill would impose certain customer disclosure and state reporting mandates on these businesses, and would preempt local governments from imposing their own regulations on them.

Referred to the Committee on Banking and Financial Services

Jan. 29, 2008

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

Feb. 12, 2008

Substitute offered

To extend state regulation to providers of tax refund anticipation loans. The bill would impose certain customer disclosure and state reporting mandates on these businesses, and would preempt local governments from imposing their own regulations on them.

The substitute failed by voice vote

Substitute offered by Rep. Steve Tobocman (D-12)

The substitute passed by voice vote

Passed in the House 107 to 0 (details)

Received in the Senate

Feb. 14, 2008

Referred to the Committee on Banking and Financial Institutions