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
<p class="bill_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</p><p class="bill_description">
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</p><p class="bill_entitled_an_act"> 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.
</p>
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 |