Virginia Senate Bill 625 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Engrossed on February 9 2018 - 50% progression, died in committee
Action: 2018-03-06 - Left in Commerce and Labor
Pending: House Commerce and Labor Committee
Text: Latest bill text (Comm Sub) [HTML]

Consumer finance companies. Requires the State Corporation Commission, as a condition of licensing a consumer finance company, to find that the applicant will not make consumer finance loans at the same location at which the applicant makes payday loans or motor vehicle title loans. The measure also (i) sets the minimum and maximum amounts of a consumer finance loan at $500 and $35,000 respectively; (ii) requires that such loans be installment loans with a term that is not less than six months nor more than 120 months; (iii) sets the maximum annual interest rate on such loans at 36 percent; (iv) authorizes late payment fees of $20, provided they are set forth in a contract (v) authorizes loan processing fees of the greater of $75 or five percent of the principal amount of the loan but not to exceed $150; and (vi)increases the amount of a bad check fee from $15 to $25.

Consumer finance companies; licensing by SCC.

Sen. Scott Surovell [D]

Sen. Richard Black [R]

Sen. Amanda Chase [R]

Sen. Adam Ebbin [D]

2018-02-13 - Senate - Senate: Read third time and passed Senate (37-Y 2-N) (Y: 37 N: 2 NV: 1 Abs: 0) [PASS]
2018-02-07 - Senate - Senate: Reported from Commerce and Labor (12-Y 3-N) (Y: 12 N: 3 NV: 0 Abs: 0) [PASS]
2018-02-05 - Senate - Senate: Motion to recommit to committee agreed to (20-Y 19-N) (Y: 20 N: 19 NV: 1 Abs: 0) [FAIL]
2018-01-31 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2018-01-29 - Senate - Senate: Reported from Commerce and Labor with substitute (12-Y 2-N) (Y: 12 N: 2 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2018-03-06	House	Left in Commerce and Labor
2018-02-27	House	Subcommittee recommends continuing to 2019 by voice vote
2018-02-20	House	Assigned C & L sub: Subcommittee #3
2018-02-19	House	Referred to Committee on Commerce and Labor
2018-02-19	House	Read first time
2018-02-19	House	Placed on Calendar
2018-02-13	Senate	Read third time and passed Senate (37-Y 2-N)
2018-02-13	Senate	Passed by temporarily
2018-02-12	Senate	Passed by for the day
2018-02-12	Senate	Passed by temporarily
2018-02-09	Senate	Engrossed by Senate - committee substitute SB625S1
2018-02-09	Senate	Read second time
2018-02-07	Senate	Reported from Commerce and Labor (12-Y 3-N)
2018-02-05	Senate	Recommitted to Commerce and Labor
2018-02-05	Senate	Motion to recommit to committee agreed to (20-Y 19-N)
2018-02-05	Senate	Committee substitute agreed to 18105185D-S1
2018-02-05	Senate	Reading of substitute waived
2018-02-05	Senate	Read second time
2018-02-02	Senate	Passed by for the day
2018-02-01	Senate	Passed by for the day
2018-02-01	Senate	Read second time
2018-01-31	Senate	Constitutional reading dispensed (39-Y 0-N)
2018-01-29	Senate	Committee substitute printed 18105185D-S1
2018-01-29	Senate	Reported from Commerce and Labor with substitute (12-Y 2-N)
2018-01-10	Senate	Referred to Committee on Commerce and Labor
2018-01-10	Senate	Prefiled and ordered printed; offered 01/10/18 18102243D

Chapter	Article	Section	Citation Type	Statute Text
6	2	1507	(n/a)	See Bill Text
6	2	1520	(n/a)	See Bill Text
6	2	1523	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+SB625
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+SB625+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?181+ful+SB625S1+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?181+vot+S02V0061+SB0625
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?181+vot+SV0235SB0625+SB0625
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?181+vot+SV0286SB0625+SB0625
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?181+vot+S02V0115+SB0625
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?181+vot+SV0503SB0625+SB0625