MA H3923

Bill

Relative to the prohibition of predatory financial practices

Introduced
06/24/2019

In Committee
06/24/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to small loans. Financial Services.

AI Summary

This bill aims to prohibit predatory financial practices by amending several sections of Chapter 140 of the General Laws in Massachusetts. Key provisions include reducing the maximum annual interest rate for small loans from 12% to 8%, lowering the maximum loan amount from $6,000 to $3,000, and making other changes to limit the scope and terms of these types of loans, which are often used to target vulnerable borrowers.

Committee Categories

Business and Industry

Sponsors (9)

Marcos Devers (D), Mindy Domb (D), Tricia Farley-Bouvier (D), Pat Jehlen (D), David LeBoeuf (D), Rady Mom (D), Denise Provost (D), Maria Robinson (D), Tommy Vitolo (D),

Last Action

Accompanied a study order, see H5160 (on 12/01/2020)

Official Document

https://malegislature.gov/Bills/191/H3923

(4 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H3923
Bill	https://malegislature.gov/Bills/191/H3923.pdf

Bill	Bill Name	Last Action	Type
H3240	Resolutions relative to the prohibition of nuclear weapons	Accompanied a study order, see H5006	Similar To
H5160	Study Order - payments and insurance	Discharged to the committee on House Rules	Replaced by
S1951	To prohibit misleading telemarketer calls to consumers	Accompanied a study order, see S2552	Similar To
S2157	Resolve creating a citizens commission concerning the commonwealth of Massachusetts being in alignment with the UN treaty on the prohibition of nuclear weapons	Accompanied a study order, see S2551	Similar To

Bill > H3923

MA H3923

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (9)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary