S0379: Payday Loans
Legislative Summary
Prohibit New Deferred Presentment Licenses From Being Issued; To Provide That New Deferred Presentment Loans And Loan Renewals May Not Be Made After June 30, 2025; To Provide That Outstanding Loans After June 30, 2025 May Be Serviced Under A Payment Plan; To Provide That Existing Deferred-presentment Licensees May Transition Within The Nationwide Multistate Licensing System Without Cost From Being Licensed As A Deferred Presentment Provider To Being Licensed As A Supervised Lender For The Remainder Of The Existing Licensing Period; And To Repeal Chapter 39 Of Title 34.
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