House Sponsors: POE-O'CONNOR-MEYER-WAIT-KOSEL, BASSI, BOST, MYERS,RICHARD, RIGHTER AND RUTHERFORD. Short description: SHORT TERM LOAN ACT Synopsis of Bill as introduced: Creates the Short-term Loan Act. Provides for the regulation of entities that make payday loans and motor vehicle title loans. Applies to loans having a term of fewer than 93 days. Provides that loans may not exceed $1,000. Limits charges that may be imposed in connection with the loans. Requires lenders to obtain a license from the Director of Financial Institutions. Amends the Financial Institutions Code to require the Director of Financial Institutions to establish a complaint registry regarding licensees under the Short-term Loan Act. Amends the Consumer Fraud and Deceptive Business Practices Act to provide that 3 or more violations of the Short-term Loan Act constitute a violation of the Consumer Fraud and Deceptive Business Practices Act. Effective January 1, 2001. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status