Rhode Island HB 7072: AN ACT RELATING TO FINANCIAL INSTITUTIONS -- CHECK CASHING -- PAYDAY LOANS (Caps the APR for payday loans at 28%. Requires 90-day maturity date. Prohibits fees/interest payments in excess of 60% of principal. Requires monthly payments of no more than 25% of original principal amount.)

Status: 04/27/2022 Committee recommended measure be held for further study (as of 2022-04-27)

State: Rhode Island · Session: 2022 · Bill: HB 7072

Sponsors: Batista, Cassar, J Lombardi, Morales

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