Key Votes
HB 455 - Payday Lending Provisions - Key Vote
Mississippi Key Votes
Stages
- Feb. 16, 2011 Senate Conference Report Adopted
- Feb. 14, 2011 House Conference Report Adopted
- Feb. 3, 2011 House Concurrence Vote Failed
- Jan. 21, 2011 Senate Bill Passed
- Jan. 18, 2011 House Bill Passed
- Jan. 6, 2011 Introduced
Family
Issues
Note
NOTE: THIS LEGISLATION NEEDED A THREE-FIFTHS MAJORITY VOTE TO PASS.
Stage Details
Legislation - Conference Report Adopted (Senate) (42-8) - Feb. 16, 2011
Legislation - Conference Report Adopted (House) (76-44) - Feb. 14, 2011
Legislation - Concurrence Vote Failed (House) - Feb. 3, 2011
Legislation - Bill Passed (Senate) (33-13) - Jan. 21, 2011
Legislation - Bill Passed (House) (79-37) - Jan. 18, 2011 (Key vote)
Title: Payday Lending Provisions
Vote Smart's Synopsis:
Vote to pass a bill that outlines regulations concerning delayed deposit check transactions.
Highlights:
-Establishes that any check casher transaction made by a person without a valid license as a check casher will be null and void (Sec. 3).
-Authorizes that a licensee may delay the deposit of a personal check cashed for a customer for up to 21 days if it is less than $200 (Sec. 11).
-Requires that a licensee will delay the deposit of a personal check cashed for a customer for 28-30 days as selected by the customer for amounts of $200-$500 (Sec.11).
-Specifies that any delay in deposit check cashed is limited to an amount of $500 (Sec. 11).
-Specifies that a licensee cannot charge more than $21.95 per $100 advanced for cashing a delayed deposit check of $200-$500 (Sec. 11).
-Requires that before entering any of the above transactions, the licensee must provide the customer with a pamphlet detailing general information about the transaction, in addition to the customer's rights and responsibilities, with a required signature (Sec. 11).
-This act is effective January 1, 2012 (Sec. 22).
Legislation - Introduced (House) - Jan. 6, 2011
Title: Payday Lending Provisions
