(at the request of Governor Tina Kotek for Department of Consumer and Business Services)
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Regular Sponsors:
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Bill Title:
Relating to consumer finance loans; prescribing an effective date.
Catchline/Summary:
Declares that this state does not want the amendments set forth in section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 to apply to consumer finance loans made in this state. Digest: Declares that this state does not want a certain federal law to apply to consumer loans made in this state. Says who the laws that govern consumer finance loans in this state apply to and when. Says what needs to be in an application for a license to make consumer finance loans in this state. (Flesch Readability Score: 74.4).
Declares that this state does not want the amendments set forth in section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 to apply to consumer finance loans made in this state. Specifies persons to whom the consumer finance laws of this state apply and circumstances in which the laws apply. Specifies the requirements for an application for a license to make consumer finance loans in this state.
Takes effect on the 91st day following adjournment sine die.
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HB 2561 Senate Committee On Labor and Business
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