HawaiiRELATING TO INSTALLMENT LOANS.
What it does
Replaces the term "consumer loan" with the defined term "installment loan" for consistency throughout the installment loan chapter. Clarifies who is subject to the installment loan chapter. Requires loan maintenance fees to be prorated daily.
More detail
Allows lenders to charge a convenience fee of up to $5 for debit card payments. Requires paper receipts only for in-person or cash payments and removes consumer names from receipts. Repeals the requirement for lenders to wait three days after a consumer fully repays a loan before issuing a new installment loan. Sunsets 6/30/2028. Effective 7/1/3000. (HD1)
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Feb 11Reported from CPC (Stand. Com. Rep. No. 426) as amended in HD 1, recommending passage on Second Reading and referral to FIN.Latest
- Feb 11Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Cochran, Ward excused (2).Minor
- Feb 4The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 8 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Iwamoto, Marten, Tam, Pierick; Ayes with reservations: none; Noes: none; and 2 Excused: Representative(s) Kong, Lowen.Minor
- Vote recorded The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. Result: pass.Lower
- Jan 31Bill scheduled to be heard by CPC on Tuesday, 02-04-25 2:00PM in House conference room 329 VIA VIDEOCONFERENCE.
- Jan 23Introduced and Pass First Reading.Minor
- Jan 23Referred to CPC, FIN, referral sheet 3Minor
- Jan 21Pending introduction.Introduced