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HB2561 • 2025

Declares that this state does not want the amendments set forth in section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 to apply to consumer finance loans made in this state.

Declares that this state does not want the amendments set forth in section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 to apply to consumer finance loans made in this state.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Last action
2025-06-27
Official status
In Senate Committee
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2025-06-27 Senate

    In committee upon adjournment.

  2. 2025-03-04 Senate

    First reading. Referred to President's desk.

  3. 2025-03-04 Senate

    Referred to Labor and Business.

  4. 2025-02-27 House

    Third reading. Carried by Sosa. Passed. Ayes, 33; Nays, 23--Boice, Breese-Iverson, Cate, Diehl, Drazan, Edwards, Elmer, Evans, Harbick, Helfrich, Javadi, Levy B, Lewis, Mannix, McIntire, Osborne, Owens, Reschke, Skarlatos, Smith G, Wallan, Wright, Yunker; Excused, 4--Boshart Davis, Helm, Nguyen H, Scharf.

  5. 2025-02-27 House

    Vote explanation(s) filed by Grayber, Levy B.

  6. 2025-02-25 House

    Second reading.

  7. 2025-02-21 House

    Recommendation: Do pass with amendments and be printed A-Engrossed.

  8. 2025-02-18 House

    Work Session held.

  9. 2025-01-28 House

    Public Hearing held.

  10. 2025-01-17 House

    Referred to Commerce and Consumer Protection.

  11. 2025-01-13 House

    First reading. Referred to Speaker's desk.

Official Summary Text

Digest: Declares that this state does not want a certain federal law to apply to consumer loans made in this state. Says who the laws that govern consumer finance loans in this state apply to and when. Says what needs to be in an application for a license to make consumer finance loans in this state. (Flesch Readability Score: 74.4).
Declares that this state does not want the amendments set forth in section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 to apply to consumer finance loans made in this state. Specifies persons to whom the consumer finance laws of this state apply and circumstances in which the laws apply. Specifies the requirements for an application for a license to make consumer finance loans in this state.
Takes effect on the 91st day following adjournment sine die.
Relating to: Relating to consumer finance loans; prescribing an effective date.
Current location: In Senate Committee