Allows RI to opt out of the provisions of DIDMCA exempting out of state lenders from interest rate limits which apply to RI lenders. Prevents evasion of statutory interest rate limits and lending rules for loans made in RI.
Introduced on 1/23/26
Summary
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From the Legislature
COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- INTEREST AND USURY - Allows RI to opt out of the provisions of DIDMCA exempting out of state lenders from interest rate limits which apply to RI lenders. Prevents evasion of statutory interest rate limits and lending rules for loans made in RI.
Sponsors
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10
0
Democratic CaucusRepublican Caucus
Roll Call Votes
Senate Committee on Commerce: Be held for further study
7 Yea
RDDDDDD0 Nay
5 Absent
DRDDDCalendar
Apr 14
12:00 AM
Senate Commerce Hearing