HB417 Alabama 2015 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2015
Title
Deferred Presentment Services Act, amended to require licenses to use a database to ensure that a customer does not have any deferred presentment transaction over $500, Sec. 5-18A-13 am'd.
Description
Under existing law, deferred presentment transactions, commonly referred to as payday loans, are regulated by the State Banking Department pursuant to the Deferred Presentment Services Act
This bill would require licensees to use a database designated by the supervisor to ensure that a customer does not have any deferred presentment transaction over $500
To amend Section 5-18A-13 of the Code of Alabama 1975, relating to deferred presentment transactions; to require licensees to use a database designated by the supervisor; and require each licensee to report within a specified time certain information to the supervisor and the supervisor to publish the aggregated data to the public.
Subjects
Deferred Presentment Services
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| June 3, 2015 | H | Indefinitely Postponed |
| April 9, 2015 | H | Financial Services second Amendment Offered |
| April 9, 2015 | H | Financial Services first Amendment Offered |
| April 9, 2015 | H | Read for the second time and placed on the calendar 2 amendments |
| April 2, 2015 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 8, 2015 | ROOM 429 (across the hall from our regular room) at 09:00 | House FS Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB417 Alabama 2015 Session - Introduced |