Hawaii House Bill 1048

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 23 2025 - 25% progression
Action: 2025-02-04 - The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Iwamoto, Marten, Tam, Pierick; Ayes with reservations: none; Noes: none; and 2 Excused: Representative(s) Kong, Lowen.
Text: Latest bill text (Introduced) [HTML]

Clarifies the intended scope of chapter 480J, HRS, which is the regulation of installment lenders, and that the law does not intend to eliminate the ability of lenders to make low-interest rate loans under existing interest and usury laws. Replaces the term "consumer loan" with the defined term "installment loan" for consistency throughout the statutes. Requires loan maintenance fees to be prorated daily to prevent consumers from incurring fees once the loan is paid off. Allows lenders to charge a convenience fee of up to five dollars for debit card payments, providing consumer more options for repayment. Streamlines the loan repayment process by requiring paper receipts only for in-person or cash payments and increases consumer privacy by removing consumer names from receipts. Repeals the requirement for lenders to wait three days after a consumer fully repays a loan before issuing a new installment loan.

Relating To Installment Loans.

Rep. Nadine Nakamura [D]

Date	Chamber	Action
2025-02-04	House	The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Iwamoto, Marten, Tam, Pierick; Ayes with reservations: none; Noes: none; and 2 Excused: Representative(s) Kong, Lowen.
2025-01-31	House	Bill scheduled to be heard by CPC on Tuesday, 02-04-25 2:00PM in House conference room 329 VIA VIDEOCONFERENCE.
2025-01-23	House	Referred to CPC, FIN, referral sheet 3
2025-01-23	House	Introduced and Pass First Reading.
2025-01-21	House	Pending introduction.

SB1367 (Same As) 2025-01-27 - Referred to CPN.

Type	Source
Summary	https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1048&year=2025
Text	https://www.capitol.hawaii.gov/sessions/session2025/bills/HB1048_.HTM
Supplement	https://www.capitol.hawaii.gov/sessions/session2025/Testimony/HB1048_TESTIMONY_CPC_02-04-25_.PDF