RI H7072 | 2022 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on January 12 2022 - 25% progression, died in committee
Action: 2022-04-27 - Committee recommended measure be held for further study
Pending: House Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 12 2022 - 25% progression, died in committee
Action: 2022-04-27 - Committee recommended measure be held for further study
Pending: House Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Caps the APR for payday loans at 28%. Requires 90-day maturity date. Prohibits fees/interest payments in excess of 60% of principal. Requires monthly payments of no more than 25% of original principal amount.
Title
Check Cashing -- Payday Loans
Sponsors
History
Date | Chamber | Action |
---|---|---|
2022-04-27 | House | Committee recommended measure be held for further study |
2022-04-22 | House | Scheduled for hearing and/or consideration (04/27/2022) |
2022-01-12 | House | Introduced, referred to House Finance |
Rhode Island State Sources
Type | Source |
---|---|
Summary | https://status.rilegislature.gov/ |
Text | https://webserver.rilegislature.gov/BillText22/HouseText22/H7072.pdf |