2019 House Bill 4251

Cap payday loan fees

Introduced in the House

Feb. 26, 2019

Introduced by Rep. Bill Sowerby (D-31)

To cap the service fee that may be charged by a payday loan service at an annual percentage rate of 36 percent. The bill would also require these lenders to determine that a customer has a reasonable ability to repay the loan.

Referred to the Committee on Financial Services