Current Legislation

• Predatory Lending Interest Rate Cap, House Bill 2871, caps interest rates on all consumer loans, such as those made by payday and car title loan outfits, and makes sure borrowers have at least 31days to repay a loan.

• Internet Lending Protection, House Bill 2203, extends state interest rate caps to loans made via Internet, mail and telephone to Oregon residents, and establishes a loan database to improve enforcement.

• Car Title Lending Protection, House Bill 2204, caps the fees and interest rates for car title loans and closes a loophole car title lenders have used in other states to evade the law.

• Check Cashing Fairness Act, House Bill 2202, requires check cashing to be licensed in Oregon, and sets limits on check cashing fees.