Bill
Bill > H0400
ID H0400
ID H0400Amends existing law to revise the licensing requirements for regulated lenders and payday lenders and to revise administrative and civil remedies for persons offering consumer credit.
summary
Introduced
02/04/2020
02/04/2020
In Committee
02/12/2020
02/12/2020
Crossed Over
Passed
Dead
03/20/2020
03/20/2020
Introduced Session
2020 Regular Session
Bill Summary
COMMERCIAL TRANSACTIONS -- Amends existing law to revise the licensing requirements for regulated lenders and payday lenders and to revise administrative and civil remedies for persons offering consumer credit.
AI Summary
This bill amends existing law to revise the licensing requirements for regulated lenders and payday lenders, and to revise administrative and civil remedies for persons offering consumer credit. Specifically, the bill allows the administrator to issue cease and desist orders to persons violating the Idaho Credit Code, and expands the administrator's ability to bring civil actions against violators, including for civil penalties up to $5,000 per violation. The bill also updates the licensing requirements and procedures for regulated lenders and payday lenders, including through the National Mortgage Licensing System (NMLS).
Committee Categories
Business and Industry, Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Business Committee (House)
Last Action
U.C. to be returned to Business Committee (on 02/17/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2020/legislation/H0400/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2020/legislation/H0400.pdf |
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