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Senate tightens oversight of payday lenders, imposes registration fines and new consumer protections
Summary
The Senate passed second‑substitute Senate Bill 76 to strengthen registration, disclosure and enforcement for payday lenders and check‑cashing firms, including fines for late registration, administrative penalties, partial‑payment rights and rescission rights.
The Utah Senate approved second‑substitute Senate Bill 76, a package of amendments aimed at enhancing oversight and consumer protections for payday lenders and check‑cashing businesses. Senator Maine, the sponsor, told the chamber the measure reflects months of negotiation among the Department of Financial Institutions, consumer advocates and industry…
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