Delaware General Assembly

Signed 6/27/12

The General Assembly has ended, the current status is the final status.

3/28/12

Keeley

Rep. Hocker
Sen. DeLuca, Bonini

Reps. Barbieri, Brady, Kenton, Heffernan, Peterman, Schooley, D.E. Williams, Wilson
Sen. Lawson

AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO LOANS.

This bill limits to five the number of short-term consumer loans (sometimes called payday loans) that any one borrower may obtain in a twelve month period. It changes the definition of short-term consumer loan to include loans up to $1000 rather than $500. The bill also provides for establishment of a database to track the number of short-term consumer loans an individual has obtained in a twelve month period. Finally, the Banking Commissioner is directed to provide a report on the prevalence and nature of these payday loans to the General Assembly.

N/A

N/A

N/A

N/A

View HTML View PDF