l9n/ Mississippi

2012 Regular Session

House Bill 39

Check cashers; reduce maximum rate of interest that may be charged for cashing checks.

Did not become law. It stopped in the House of Representatives's Banking and Financial Services Committee on March 6, 2012. The 2012 session has ended.

What it does

The synopsis the Legislature published with the bill.

AN ACT TO AMEND SECTION 75-67-519, MISSISSIPPI CODE OF 1972, TO PROHIBIT CHECK CASHERS FROM CASHING A DELAYED DEPOSIT CHECK FOR ANY PERSON WHO HAS AN OUTSTANDING DELAYED DEPOSIT CHECK WITH ANOTHER CHECK CASHER THAT HAS NOT BEEN REPAID IN FULL; TO DIRECT THE COMMISSIONER OF BANKING TO PROVIDE FOR THE DEVELOPMENT OF A DATABASE IN WHICH CHECK CASHERS MUST RECORD EACH DELAYED DEPOSIT TRANSACTION IN ORDER TO PREVENT VIOLATIONS OF THE MAXIMUM AMOUNT THAT MAY BE OUTSTANDING; TO AUTHORIZE THE COMMISSIONER TO CHARGE A FEE TO CHECK CASHERS AS NECESSARY TO MAINTAIN THE DATABASE SYSTEM; TO PROVIDE THAT THE MAXIMUM AMOUNT THAT CHECK CASHERS MAY CHARGE FOR CASHING A DELAYED DEPOSIT CHECK SHALL NOT EXCEED AN ANNUAL PERCENTAGE RATE OF 36% PER ANNUM ON THE FACE AMOUNT OF THE CHECK; AND FOR RELATED PURPOSES.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the House of Representatives

10 co-sponsors

Alyce G. Clarke, Kelvin Buck, Credell Calhoun, Bryant W. Clark, James Evans, Esther Harrison, John W. Hines, Sr., Robert L. Johnson III, Sara R. Thomas, Percy W. Watson

Its course

February 3 to March 6, 2012, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

Each committee stop sits inside its chamber.

Every action2 actions on 2 days

In the House of RepresentativesFeb 3 to Mar 6 · stopped32 days

Banking and Financial ServicesFeb 3 to Mar 6 · stopped32 days

Text

Each version as the Legislature printed it.

l9n doesn't hold this bill's text yet.

What happened

In l9n's words, one line for each step. Every action as the Legislature published it is below.

In the House of Representatives Feb 3 – Mar 6

  1. Feb 3Referred to the House committee on Banking and Financial Services
  2. Mar 6Died in committee in the House
All 2 actions, as published
  1. Feb 3Referred To Banking and Financial ServicesHouse of Representatives
  2. Mar 6Died In CommitteeHouse of Representatives