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CS/CS/HB 1267: Consumer Finance Loans

GENERAL BILL by Commerce Committee ; Insurance & Banking Subcommittee ; Fernandez-Barquin

Consumer Finance Loans; Prohibits person from operating branch of business making consumer finance loans before authorized to do so & obtaining license from OFR; revises maximum interest rate on consumer finance loans; revises minimum amount of time before which delinquency charge for each payment in default may be imposed; requires licensees offering assistance program to borrowers after federally declared major disaster to send notice to office; requires licensees to file annual reports; requires licensees to suspend specified actions for after federally declared disaster.

Effective Date: 7/1/2023
 Last Action: 10/26/2023 House - Veto Message Received (Special Session 2023C)
Bill Text: PDF
Senate Committee References:
  1. Fiscal Policy (FP)

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  • Bill History

    Date Chamber Action
    2/28/2023 House • Filed
    3/6/2023 House • Referred to Insurance & Banking Subcommittee
    • Referred to State Administration & Technology Appropriations Subcommittee
    • Referred to Commerce Committee
    • Now in Insurance & Banking Subcommittee
    3/7/2023 House • 1st Reading (Original Filed Version)
    3/23/2023 House • Added to Insurance & Banking Subcommittee agenda
    3/27/2023 House • Favorable with CS by Insurance & Banking Subcommittee
    • Reported out of Insurance & Banking Subcommittee
    • Laid on Table under Rule 7.18(a)
    • CS Filed
    3/28/2023 House • 1st Reading (Committee Substitute 1)
    • Referred to State Administration & Technology Appropriations Subcommittee
    • Referred to Commerce Committee
    • Now in State Administration & Technology Appropriations Subcommittee
    4/10/2023 House • Added to State Administration & Technology Appropriations Subcommittee agenda
    4/12/2023 House • Favorable by State Administration & Technology Appropriations Subcommittee
    • Reported out of State Administration & Technology Appropriations Subcommittee
    • Now in Commerce Committee
    4/13/2023 House • Added to Commerce Committee agenda
    4/18/2023 House • Favorable with CS by Commerce Committee
    4/19/2023 House • Reported out of Commerce Committee
    4/20/2023 House • Laid on Table under Rule 7.18(a)
    • CS Filed
    • 1st Reading (Committee Substitute 2)
    4/21/2023 House • Bill referred to House Calendar
    • Added to Second Reading Calendar
    4/24/2023 House • Bill added to Special Order Calendar (4/27/2023)
    4/27/2023 House • Read 2nd time
    • Added to Third Reading Calendar
    • Read 3rd time
    • CS passed; YEAS 96, NAYS 18
    4/27/2023 Senate • In Messages
    • Referred to Fiscal Policy
    • Received
    5/1/2023 Senate • Withdrawn from Fiscal Policy -SJ 654
    • Placed on Calendar, on 2nd reading
    • Substituted for CS/SB 580 -SJ 654
    • Read 2nd time -SJ 654
    • Amendment(s) failed (157894) -SJ 654
    • Read 3rd time -SJ 654
    • CS passed; YEAS 22 NAYS 9 -SJ 654
    5/1/2023 House • In Messages
    • Ordered enrolled
    6/26/2023 • Signed by Officers and presented to Governor
    • Vetoed by Governor
    10/26/2023 House • Veto Message Received (Special Session 2023C)

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  • CS/CS/HB 1267, Enrolled (Current Bill Version) Posted 5/1/2023 at 2:46 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 580 (c1) Consumer Finance Loans Gruters Similar Last Action: 5/1/2023 S Laid on Table -SJ 654 Track This Bill

    Citations - Statutes (8)

    Citation Catchline Location in Bill Location In Bill Help
    516.01 Definitions. Page 2 (pdf)
    516.02 Loans; lines of credit; rate of interest; license. Page 4 (pdf)
    516.03 Application for license; fees; etc. Page 4 (pdf)
    516.031 Finance charge; maximum rates. Page 6 (pdf)
    516.15 Duties of licensee. Page 9 (pdf)
    516.19 Penalties. Page 13 (pdf)
    516.38 Page 10 (pdf)
    516.39 Page 12 (pdf)

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  • CS/CS/HB 1267, Committee Substitute 2 Posted 4/20/2023 at 8:30 AM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 580 (c1) Consumer Finance Loans Gruters Similar Last Action: 5/1/2023 S Laid on Table -SJ 654 Track This Bill

    Floor Amendments (2)

    Amendment Sponsor Filed Last Floor Action Format
    157894 - Amendment
    Between lines 234 and 235 insert:     		Berman 4/28/2023
    3:53 PM     		Senate: Failed
    5/1/2023     		Web Page
    PDF
    906926 - Amendment
    Delete lines 238 - 243 and insert:     		Gruters 4/28/2023
    1:57 PM     		Senate: Withdrawn
    5/1/2023     		Web Page
    PDF

    Floor Votes (2)

    Date Chamber Result
    4/27/2023 3:32 PM House 96 Yeas - 18 Nays
    5/1/2023 2:11 PM Senate 22 Yeas - 9 Nays

    Citations - Statutes (8)

    Citation Catchline Location in Bill Location In Bill Help
    516.01 Definitions. Page 2 (pdf)
    516.02 Loans; lines of credit; rate of interest; license. Page 4 (pdf)
    516.03 Application for license; fees; etc. Page 4 (pdf)
    516.031 Finance charge; maximum rates. Page 6 (pdf)
    516.15 Duties of licensee. Page 9 (pdf)
    516.19 Penalties. Page 13 (pdf)
    516.38 Page 10 (pdf)
    516.39 Page 12 (pdf)

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  • CS/HB 1267, Committee Substitute 1 Posted 3/27/2023 at 4:11 PM

    Bill Text:   PDF
    Analyses:   State Administration & Technology Appropriations Subcommittee (Post-Meeting) 4/12/2023 (pdf)
    Commerce Committee (Post-Meeting) 4/19/2023 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 580 (c1) Consumer Finance Loans Gruters Similar Last Action: 5/1/2023 S Laid on Table -SJ 654 Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    318523 - Amendment
    Remove lines 108-280 and insert:     		Fernandez-Barquin 4/14/2023
    9:15 PM     		Adopted without Objection
    4/18/2023     		PDF

    Citations - Statutes (7)

    Citation Catchline Location in Bill Location In Bill Help
    516.01 Definitions. Page 2 (pdf)
    516.02 Loans; lines of credit; rate of interest; license. Page 4 (pdf)
    516.03 Application for license; fees; etc. Page 4 (pdf)
    516.031 Finance charge; maximum rates. Page 5 (pdf)
    516.15 Duties of licensee. Page 9 (pdf)
    516.151 Page 9 (pdf)
    516.331 Page 10 (pdf)

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  • HB 1267, Original Filed Version Posted 2/28/2023 at 2:51 PM

    Bill Text:   PDF
    Analyses:   Insurance & Banking Subcommittee (Post-Meeting) 6/29/2023 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 580 Consumer Finance Loans Gruters Similar Last Action: 5/1/2023 S Laid on Table -SJ 654 Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    568167 - Amendment
    Between lines 267 and 268, insert:     		Fernandez-Barquin 3/24/2023
    6:00 PM     		Adopted without Objection
    3/27/2023     		PDF

    Citations - Statutes (7)

    Citation Catchline Location in Bill Location In Bill Help
    516.01 Definitions. Page 2 (pdf)
    516.02 Loans; lines of credit; rate of interest; license. Page 4 (pdf)
    516.03 Application for license; fees; etc. Page 4 (pdf)
    516.031 Finance charge; maximum rates. Page 5 (pdf)
    516.15 Duties of licensee. Page 9 (pdf)
    516.151 Page 9 (pdf)
    516.331 Page 10 (pdf)

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