HB296 Alabama 2016 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2016
Title
Deferred Presentment Services Act repealed, short-term cash advance loans, prohibited, Secs. 5-18A-1 to 5-18A-22, inclusive, repealed
Description
Under existing law, short-term cash advance loans, also known as "pay day" loans, are governed under the Deferred Presentment Services Act
This bill would repeal the Deferred Presentment Services Act
This bill would also prohibit short-term cash advance lending and provide for a civil penalty for short-term cash advance lending
Relating to short-term cash advance loans; to repeal Chapter 18A, Title 5 of the Code of Alabama 1975, known as the Deferred Presentment Services Act, which governs short-term cash advance loans; and to prohibit short-term cash advance lending and provide for a civil penalty for violations.
Subjects
Payday Loans
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 24, 2016 | H | Read for the first time and referred to the House of Representatives committee on Financial Services |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB296 Alabama 2016 Session - Introduced |