Virginia House Bill 843 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 7 2020 - 25% progression, died in chamber
Action: 2020-01-21 - Incorporated by Labor and Commerce
Text: Latest bill text (Prefiled) [HTML]

Motor vehicle title loans, payday loans, consumer finance loans, and open-end credit plans; interest rate. Caps the rate of interest that may be charged on motor vehicle title loans, payday loans, and open-end credit plans at 36 percent per year. The bill prohibits a lender from charging a membership fee, participation fee, or transaction fee in connection with any such extension of credit. The bill also caps the maximum rate of interest that a licensed consumer finance company may charge on any loan at 36 percent annually and eliminates the existing provision that permits such licensees to charge any agreed-upon amount of interest on consumer finance loans over $2,500.

Motor vehicle title loans, payday loans, etc.; interest rate.

Del. Kathleen Murphy [D]

Date	Chamber	Action
2020-01-21	House	Incorporated by Labor and Commerce
2020-01-07	House	Referred to Committee on Labor and Commerce
2020-01-07	House	Prefiled and ordered printed; offered 01/08/20 20100824D

Chapter	Article	Section	Citation Type	Statute Text
6	2	1520	(n/a)	See Bill Text
6	2	1816	(n/a)	See Bill Text
6	2	1817	(n/a)	See Bill Text
6	2	1818	(n/a)	See Bill Text
6	2	2216	(n/a)	See Bill Text
6	2	312	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB843
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB843+hil