House Bill 243

Actions
Last Action 01/09/21: to Committee on Committees (H)
Title AN ACT relating to deferred deposit service businesses.
Bill Documents Introduced
Bill Request Number 497
Sponsor M. Prunty
Summary of Original Version Amend KRS 286.9-100 to reduce the maximum charges for deferred deposit transactions; limit charges for veterans, persons under the age of 21, and persons over the age of 61 to an APR of 36%; prohibit deferred deposit transactions within 45 days after a customer has entered into 5 or more transactions within 180 days; require licensees to offer at least one extended payment plan to customers each year; require notice of the ability to extend the time period for paying off a loan to be posted; make technical corrections; provide that Act applies to deferred deposit transactions entered on or after effective date.
Index Headings of Original Version Interest and Usury - Deferred deposit service businesses, maximum loan charges
Banks and Financial Institutions - Deferred deposit service businesses, maximum loan charges
Banks and Financial Institutions - Deferred deposit service businesses, required practices
Consumer Affairs - Deferred deposit service businesses, maximum loan charges
Consumer Affairs - Deferred deposit service businesses, required practices

Actions

Top
01/09/21
  • introduced in House
  • to Committee on Committees (H)


Last updated: 3/5/2021 7:16 PM (EST)
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