Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House passes payday lending reforms to require 60-day repayment window after 10 weeks
Summary
HB 127 passed the House 69–4 on Feb. 24, 2014, requiring lenders to give borrowers a 60‑day, no-interest, no-fee repayment option after a maximum rollover period and adding disclosure, underwriting and reporting requirements for payday lenders.
The Utah House approved HB 127, consumer lending amendments addressing payday lending practices, by a vote of 69–4 on Feb. 24. Representative Dunnegan, sponsor of the bill, described its measures as modest steps to protect consumers while preserving lawful business activity.
Dunnegan told the chamber that payday loans often roll over and that state law already prohibits rolling past 10 weeks; HB…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
