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Utah Senate approves payday-lending overhaul and expands tools for tollway projects after heated debate
Summary
On Feb. 14, 2006, the Utah Senate passed a second-substitute payday-lending reform (SB76) after contentious debate over a $1,000-per-violation penalty and potential impact on servicemembers, and approved legislation to allow public-private partnerships for tollway projects (SB80) amid debate over foreign ownership and property acquisition; multiple consent-calendar bills also passed.
SALT LAKE CITY — The Utah Senate on Feb. 14 advanced a string of bills, including a narrowly approved overhaul of payday-lending rules and a measure to facilitate public-private partnerships for toll roads, as senators debated consumer protections, regulatory penalties and long-term ownership of transportation infrastructure.
The chamber passed second substitute Senate Bill 76, a lenders-registration and payday-lending overhaul that sponsors said reflects eight months of negotiation among industry, consumer groups and regulators. The bill passed 15–12 with 2 absent after senators expressed sharply different views about the law’s likely effects and the size of the penalties it imposes.
Supporters, led on the floor by sponsor Senator Maine, said the bill represents compromise language that improves oversight and had buy-in from interested parties, including the state Department of…
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