Removes the licensing exemption for a lender that originates six (6) loans or less in twelve (12) consecutive months.
Licensed Activities -- Lenders And Loan Brokers -- Check Cashing
Licensed Activities -- Lenders And Loan Brokers -- Check Cashing
Repeals the provisions of the general laws allowing deferred deposit providers, also known as "payday lenders."
Repeals the provisions of the general laws allowing deferred deposit providers, also known as "payday lenders."
Amends outdated provisions of the banking statutes and the home loan protection act, adds consumer protections, including minimum capital requirements and limits on investments, for currency transmitters, including crypto currency.
Amends outdated provisions of the banking statutes and the home loan protection act, adds consumer protections, including minimum capital requirements and limits on investments, for currency transmitters, including crypto currency.