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House approves change to limit post‑judgment interest on deferred‑deposit loans
Summary
Senate Bill 138 passed the Utah House after sponsors said it closes a loophole allowing collection agencies to impose contract interest on judgments tied to payday loans; supporters framed it as consumer protection and the House approved it 61–0.
The Utah House approved Senate Bill 138, which sponsors said corrects a loophole that had allowed collection agencies to impose contract interest on judgments arising from deferred‑deposit (payday) loans.
Representative Porto told the House the 1999 Check Cashing Registration Act included an absolute 12‑week limit after which contract interest may not be charged on…
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