HB 2360 - DIGEST |
(SEE ALSO PROPOSED 1ST SUB) |
Finds that there is inadequate information to determine the fairness or reasonableness of fees and interest associated with small loans, also known as payday loans. |
Requires the director of the department of financial institutions to study the economics and business models associated with small loans and report the findings to the legislature. |
Authorizes the director to include recommendations based upon the findings in the report. The report must be submitted to the legislature by November 30, 2006. |