HB 1509 -- Title Loans

Sponsor:  Hughes

This bill limits the amount of interest a title lender can charge
on loans to two times the average rate credit unions charge.
Beginning January 1, 2009, the Director of the Division of Credit
Unions within the Department of Insurance, Financial
Institutions, and Professional Registration will determine the
approximate average interest rate being charged by credit unions
in the state and make the rate available to the public no less
than each calendar quarter.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:10 pm