SB446 Alabama 2015 Session

Sponsors

Session

Regular Session 2015

Title

Deferred presentment transactions, maximum amount advanced, increased, provide licensee accessing statewide database to be charged a maximum fee, Secs. 5-18A-12, 5-18A-13 am'd.

Description

<p class="bill_description"> Under existing law, the maximum amount that may be advanced in any deferred presentment transaction is $500</p><p class="bill_description"> This bill would increase the maximum amount that may be advanced in any deferred presentment transaction</p><p class="bill_description"> This bill would provide for a maximum fee that may be charged for each licensee accessing the statewide database</p><p class="bill_description"> This bill would establish an account within the State Treasury to be known as the Alabama Financial Education Endowment Fund to support statewide financial education and consumer credit building activities and programs</p><p class="bill_entitled_an_act"> To amend Sections 5-18A-12 and 5-18A-13 of the Code of Alabama 1975, relating to deferred presentment transactions; to increase the maximum amount that may be advanced in any deferred presentment transaction; to provide for a maximum fee that may be charged for a licensee to access the statewide database; and to add a new Section 5-18A-21.1 to the Code of Alabama 1975, to establish an account within the State Treasury to be known as the Alabama Financial Education Endowment Fund to support statewide financial education and consumer credit building activities and programs. </p>

Subjects

Deferred Presentment Services