Business Regulation - Pawnbrokers and Pawn Transactions - Limitation on Conversion of Interest to Fees
Sponsor: Frank M. Conaway, Jr. (District 40)Committee: Economic MattersSubject: Business Regulation and OccupationsStatus: Unfavorable Report by Economic Matters (as of Dec 1, 2021)
What this bill does
Official synopsis
Prohibiting a pawnbroker, or other lending agent acting on behalf of a pawnbroker, from converting more than 10% of interest charged on a pawn transaction into a fee collectible by the pawnbroker within a 30-day period of time, beginning on the date of the conversion, within the term of the pawn transaction; etc.
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Testimony (2)
MGA witness listFAV 1FavorableUNF 1Unfavorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Delegate Conaway, Delegate Conawaylegislator | Individual | Oral |
| UNF | Bohle, Matthew | RWL | Written (PDF) |
Organizations on record
RWLUNF 1