H7724Introduced in the House
Establishes a maximum per annum rate of interest on small loans at ninety-nine percent (99%) and limit the amounts of origination and closing fees. Also requires that late fees and returned payment fees be agreed to in writing between borrower and lender.
Introduced by Patricia Serpa, District 27
What does this bill do?
Plain-English breakdown
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Official description
FINANCIAL INSTITUTIONS -- SMALL LOAN LENDERS - Establishes a maximum per annum rate of interest on small loans at ninety-nine percent (99%) and limit the amounts of origination and closing fees. Also requires that late fees and returned payment fees be agreed to in writing between borrower and lender.
Where it stands
Withdrawn at sponsor's request
February 13, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
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Bill history
Introduced, referred to House Corporations
Withdrawn at sponsor's request
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