2010 Regular Session

SENATE BILL 678

File Code: Commercial Law - Credit Regulation Crossfiled with: HOUSE BILL 79
Sponsored By:
Senators Della, Forehand, Lenett, Pinsky, and Raskin
Entitled:
Commercial Law - Credit Services Businesses - Limitation on Fees

Synopsis:

Prohibiting a credit services business, its employees, and independent contractors who sell or attempt to sell the services of a credit services business from charging or receiving any money or other valuable consideration in connection with an extension of credit that, when combined with any interest charged on the extension of credit, would exceed a specified interest rate.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used.
Senate Action
2/10
First Reading Finance
2/17
Hearing 3/2 at 1:00 p.m.
3/18
Favorable Report by Finance
3/19
Favorable
Special Order 3/22 (Senator Conway) Adopted
3/22
Favorable Report Adopted
Second Reading Passed
3/24
Third Reading Passed (47-0)
House Action
3/23
First Reading Economic Matters
3/26
Hearing 4/6 at 1:00 p.m.

Sponsored by:

Senator George W. Della, Jr., District 46
Senator Jennie M. Forehand, District 17
Senator Mike Lenett, District 19
Senator Paul G. Pinsky, District 22
Senator Jamie Raskin, District 20

Bill indexed under the following Subjects:

Consumer Protection -see also- Unfair Trade Practices
Credit
Fees -see also- Attys` Fees; Devt Fees & Taxes; Reimb Rates.
Interest

Bill affects the following Statute:

Commercial Law
( 14-1902 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled
Fiscal and Policy Note: Available
Amendments: None offered
Committee Votes :
Senate
Finance
Roll Call Vote (Legislative date is shown):
Senate
March 24, 2010: Third Reading Passed (47-0)