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LB431
Predatory Lending - Related to delayed deposits
| Description: |
Change the Delayed Deposit Services Licensing Act provisions. Prohibit delayed deposit licensees (payday lenders) from entering into a transaction with a potential maker who (a) has an incomplete transaction with such licensee or any other licensee or (b) has completed a transaction within the last 72 hours. The intent is to close holes left open in previous legislation and reduce abuse of the Delayed Deposit Services Licensing Act by licensees and consumers. To enforce the prohibitions, the bill creates a data base paid for by fees paid by payday lenders. This database will provide real time information to lenders. Sen. McGill of Lincoln (Dist. #26) has proposed an interim study on delayed deposit businesses (LR114). CARRYOVER TO 2010 LEGISLATIVE SESSION Indefinitely postponed April 14, 2010. |
| View The Bill: | Click here to view the bill online |
| Hearing Date & Room: | Mon., Feb. 23, 2009, 1:30pm in Room #1507 |
| Legislative Status: | IPP (Killed) in Committee |
| Sponsor(s): | Amanda McGill (26) |
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| Categories: | Economic Justice, Financial |