Bill Text: HI SCR180 | 2015 | Regular Session | Introduced

---

Bill Title: Auditor; Report No. 05-11; Payday Loans

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2015-03-23 - Referred to CPN, WAM. [SCR180 Detail]

Download: Hawaii-2015-SCR180-Introduced.html

---

THE SENATE	S.C.R. NO.	180
TWENTY-EIGHTH LEGISLATURE, 2015
STATE OF HAWAII

SENATE CONCURRENT

RESOLUTION

 

 

requesting the auditor to conduct a follow-up analysis to sunrise analysis: check cashing and deferred deposit agreements (Payday loans), Report No. 05-11.

 

 

     WHEREAS, the Auditor issued Sunrise Analysis: Check Cashing and Deferred Deposit Agreements (Payday Loans), Report No. 05-11 in December 2005; and

 

     WHEREAS, in Report No. 05-11, the Auditor recommended several legislative changes, including instituting a mandatory registration program for all payday lenders with the Department of Commerce and Consumer Affairs; and

 

     WHEREAS, the recommendations in Report No. 05-11 have not yet been adopted by the Legislature; now, therefore,

 

     BE IT RESOLVED by the Senate of the Twenty-eighth Legislature of the State of Hawaii, Regular Session of 2015, the House of Representatives concurring, that the Auditor is requested to conduct a follow-up analysis to Sunrise Analysis: Check Cashing and Deferred Deposit Agreements (Payday Loans), Report No. 05-11; and

 

     BE IT FURTHER RESOLVED that the Auditor is requested to:

     (1)  Compare regulation of payday loans under chapter 480F, Hawaii Revised Statutes, with regulations in other states;

     (2)  Analyze the economic impact on consumers and payday loan providers of the regulations in other jurisdictions that have imposed a cap on fees equal to an annual percentage rate of thirty-six percent; and

     (3)  Analyze the availability and cost of alternative credit products to payday loans; and

 

     BE IT FURTHER RESOLVED that the Auditor report its findings and recommendations, including any proposed legislation, to the Legislature no later than twenty days prior to the convening of the Regular Session of 2016; and

 

     BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the Auditor and the Director of Commerce and Consumer Affairs.

 

 

 

	OFFERED BY:	_____________________________

Report Title: 

Auditor; Report No. 05-11; Payday Loans