States / Rhode Island / HB 7724
HB 7724 Failed
AN ACT RELATING TO FINANCIAL INSTITUTIONS -- SMALL LOAN LENDERS
Introduced
In Committee
Floor
Crossed Over
Passed
Enacted
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.
- Chamber
- House
- Introduced
- Feb 12, 2026
- Last action
- Feb 13, 2026 — 02/13/2026 Withdrawn at sponsor's request
- Sponsor
- Pat Serpa D
- Session
- 2026
- Momentum
- 5 · Stalled