l9n/ Mississippi

2014 Regular Session

House Bill 311

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 February 4, 2014. The 2014 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

Its course

January 16 to February 4, 2014, 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 RepresentativesJan 16 to Feb 4 · stopped19 days

Banking and Financial ServicesJan 16 to Feb 4 · stopped19 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 Jan 16 – Feb 4

  1. Jan 16Referred to the House committee on Banking and Financial Services
  2. Feb 4Died in committee in the House
All 2 actions, as published
  1. Jan 16Referred To Banking and Financial ServicesHouse of Representatives
  2. Feb 4Died In CommitteeHouse of Representatives