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Committee advances modest pawn-broker fee changes in voice vote
Summary
After staff briefing and brief discussion, the committee voted unanimously to report HB 1269 (pawnbroker fee and term adjustments) out of committee with a due-pass recommendation; the bill shortens loan terms and modestly raises interest and storage fees.
The Consumer Protection and Business Committee reported House Bill 1269 out of committee with a due-pass recommendation following a voice vote on Jan. 14.
Staff described the bill as updating statutory terms for pawnbrokers: reducing maximum loan term from 90 days to 60 days; raising the interest rate on loans of $100 or more from 4% to 5% per…
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