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Comm Summary01:34 PM02:09 PMFinal
Bill Summary Final
Adopt prepared amendment L.006 (Attachment C). The amendment changes the maximum interest rate that may be charged on payday loans from 36 percent to 45 percent. It also allows payday lenders to charge an origination fee of no more than $10 for every $100 loaned. Members of the committee asked questions about the amendment and held a lengthy discussion about the changes. Representative Gardner requested that the bill be laid over to give the payday lending industry time to consider the amendment. Members of the committee discussed Representative Gardner's request. Representative Levy denied the request. The motion passed on a vote of 7-4.Final
Adopt prepared amendment L.005 (Attachment B). The motion passed without objection.Final
FINAL VOTE - Refer House Bill 10-1351, as amended, to the Committee of the Whole with a favorable recommendation. The motion passed on a vote of 7-4.Final
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