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Bill > HB1314
GA HB1314
GA HB1314Banking and finance; require licensees to disclose whether a transaction is reportable to a credit reporting agency
summary
Introduced
02/12/2026
02/12/2026
In Committee
02/26/2026
02/26/2026
Crossed Over
Passed
Dead
Introduced Session
2025-2026 Regular Session
Bill Summary
AN ACT To amend Article 2 of Chapter 3 of Title 7 of the Official Code of Georgia Annotated, relating to operating procedures, so as to require licensees to disclose whether a transaction is reportable to a credit reporting agency; to provide for an effective date and applicability; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill requires any business licensed under a specific chapter of Georgia law to inform borrowers whether their loan transactions will be reported to a credit reporting agency, which are companies that collect and maintain information on consumers' credit history. This new requirement will take effect on July 1, 2026, and will apply to all new installment loans made on or after that date, aiming to provide borrowers with greater transparency about how their loan activity might impact their credit.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
House Committee Favorably Reported (on 02/26/2026)
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://www.legis.ga.gov/legislation/73204 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20252026/242589 |
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