Virginia 2020 Regular Session Status: Enacted

HB 789 — Consumer lending; replaces references to payday loans with term 'short-term loans.'

Last action — Enacted, Chapter 1215 (effective - see bill)

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House of Delegates
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 07, 2020. Enacted.

Prognosis

Likely to advance 80% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 43 sponsors

    1 primary, 42 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 9 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Consumer lending. Replaces references to payday loans with the term "short-term loans." The measure caps the interest and fees that may be charged under a short-term loan at an annual rate of 36 percent, plus a maintenance fee; increases the maximum amount of such loans from $500 to $2,500; and sets the duration of such loans at a minimum of four months, subject to exceptions, and a maximum of 24 months. Short-term loan licensees are required to make a reasonable attempt to verify a borrower's income and may not collect fees and charges that exceed 50 percent of the original loan amount if such amount is equal to or less than $1,500 and 60 percent of the original loan amount if such amount is greater than $1,500. The measure amends the requirements for motor vehicle title loans, including requiring licensed lenders to use a database to determine a prospective borrower's eligibility for a loan and prohibiting loans to a borrower who has an outstanding short-term loan. The measure sets a 36-percent annual interest rate cap on open-end credit plans and allows a $50 annual participation fee. A violation of these provisions is made a prohibited practice under the Virginia Consumer Protection Act. The measure amends provisions of the Consumer Finance Act to, among other things, allow licensed lenders to use the services of access partners and establish requirements that loans be between $300 and $35,000; be repayable in substantially equal installment payments; have a term of no fewer than six and no more than 120 months; charge not more than 36 percent annual interest and a loan processing fee; and require licensees to post a bond. The measure prohibits credit service businesses from advertising, offering, or performing other services in connection with an extension of credit that has an annual interest rate exceeding 36 percent, is for less than $5,000, has a term of less than one year, or is provided under an open-end credit plan. The bill has a delayed effective date of July 1, 2021, and requires any person who would be required to be licensed under the provisions of the act to apply for a license by April 1, 2021. This bill is identical to SB 421.

Bill Text

What changed in the latest version

188 added · 187 removed

Plain-language change summary

The updated version of Bill HB 789 clarifies the provisions related to interest charges by insurance agents and sets forth stricter rules around who can obtain a license to provide credit. Specifically, it reinforces that any credit extended with rates exceeding 36 percent interest or a participation fee above $50 per year is void, thus protecting consumers from excessive charges. Additionally, it highlights eligibility restrictions for licensed agents, particularly concerning past violations or revoked licenses, which aims to ensure a more trustworthy lending environment. These changes matter because they seek to safeguard consumers from predatory lending practices and enhance the integrity of the credit industry.

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SESSION history | hilite | pdf | print version CHAPTER 1215 An Act to amend and reenact §§ 6.2-303, 6.2-312, 6.2-435, 6.2-1500, 6.2-1501, 6.2-1505, 6.2-1507, 6.2-1509, 6.2-1517, 6.2-1518, 6.2-1520, 6.2-1523, 6.2-1524, 6.2-1800, 6.2-1801, 6.2-1803, 6.2-1804, 6.2-1807, 6.2-1809, 6.2-1810, 6.2-1811, 6.2-1816, 6.2-1817, 6.2-1819, 6.2-1820, 6.2-1827, 6.2-1828, 6.2-2200, 6.2-2201, 6.2-2203, 6.2-2204, 6.2-2207, 6.2-2210, 6.2-2215, 6.2-2216, 6.2-2217, 6.2-2224, 6.2-2226, 59.1-200, and 59.1-335.5 of the Code of Virginia;
SESSION history | hilite | pdf | print version VIRGINIA ACTS OF ASSEMBLY -- CHAPTER An Act to amend and reenact §§ 6.2-303, 6.2-312, 6.2-435, 6.2-1500, 6.2-1501, 6.2-1505, 6.2-1507, 6.2-1509, 6.2-1517, 6.2-1518, 6.2-1520, 6.2-1523, 6.2-1524, 6.2-1800, 6.2-1801, 6.2-1803, 6.2-1804, 6.2-1807, 6.2-1809, 6.2-1810, 6.2-1811, 6.2-1816, 6.2-1817, 6.2-1819, 6.2-1820, 6.2-1827, 6.2-1828, 6.2-2200, 6.2-2201, 6.2-2203, 6.2-2204, 6.2-2207, 6.2-2210, 6.2-2215, 6.2-2216, 6.2-2217, 6.2-2224, 6.2-2226, 59.1-200, and 59.1-335.5 of the Code of Virginia;
[H 789] Approved April 22, 2020   Be it enacted by the General Assembly of Virginia:
[H 789] Approved   Be it enacted by the General Assembly of Virginia:
(v) make a payday loan to a person within 45 days following the date that the person has paid or otherwise satisfied in full a fifth payday loan made within a period of 180 days as provided in subdivision 27 a;
(v) make a payday loan to a person within 45 days following the date that the person has paid or otherwise satisfied in full a fifth payday loan made within a period of days as provided in subdivision 27 a;
An extended term loan is a loan that complies with the terms and conditions otherwise applicable to payday loans under the terms of this chapter except that (i) the principal amount of the loan, and any interest and fees permitted by § 6.2-1817, shall be payable in four equal installments over a payment period of 60 days following the date the loan is made and (ii) no licensee may make a payday loan to such borrower during the longer of (a) 90 days following the date the extended term loan is paid or otherwise satisfied in full or (b) 150 days following the date the extended term loan is made.
An extended term loan is a loan that complies with the terms and conditions otherwise applicable to payday loans under the terms of this chapter except that (i) the principal amount of the loan, and any interest and fees permitted by § 6.2-1817, shall be payable in four equal installments over a payment period of 60 days following the date the loan is made and (ii) no licensee may make a payday loan to such borrower during the longer of (a) 90 days following the date the extended term loan is paid or otherwise satisfied in full or (b) days following the date the extended term loan is made.
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Action History

  1. Enacted, Chapter 1215 (effective - see bill)

  2. Signed by President as reenrolled

  3. Signed by Speaker as reenrolled

  4. Reenrolled bill text (HB789ER2)

  5. Reenrolled

  6. Governor's recommendation adopted

  7. Senate concurred in Governor's recommendation (22-Y 18-N)

  8. VOTE: (54-Y 41-N)

  9. House concurred in Governor's recommendation (54-Y 41-N)

  10. Placed on Calendar

  11. Governor's recommendation received by House

  12. Governor's Action Deadline 11:59 p.m., April 11, 2020

  13. Enrolled Bill communicated to Governor on March 17, 2020

  14. Signed by President

  15. Signed by Speaker

  16. Impact statement from DPB (HB789ER)

  17. Enrolled

  18. Senate substitute agreed to by House 20108486D-S1 (62-Y 30-N)

  19. Passed Senate with substitute (28-Y 12-N)

  20. Engrossed by Senate - committee substitute HB789S1

  21. Committee substitute agreed to 20108486D-S1

  22. Reading of substitute waived

  23. Read third time

  24. Constitutional reading dispensed (38-Y 0-N)

  25. VOTE: Adoption (62-Y 30-N)

  26. Reported from Finance and Appropriations (14-Y 0-N)

  27. Impact statement from DPB (HB789S1)

  28. Rereferred to Finance and Appropriations

  29. Committee substitute printed 20108486D-S1

  30. Reported from Commerce and Labor with substitute (11-Y 4-N)

  31. Referred to Committee on Commerce and Labor

  32. Constitutional reading dispensed

  33. Impact statement from DPB (HB789EH1)

  34. VOTE: Passage (65-Y 33-N)

  35. Read third time and passed House (65-Y 33-N)

  36. Printed as engrossed 20106372D-EH1

  37. Engrossed by House - committee substitute with amendments HB789EH1

  38. Amendments by Delegate Bagby agreed to

  39. Committee substitute agreed to 20106372D-H1

  40. Read second time

  41. House committee, floor amendments and substitutes offered

  42. Passed by for the day

  43. Passed by for the day

  44. Read first time

  45. Impact statement from DPB (HB789)

  46. Incorporates HB843 (Murphy)

  47. Incorporates HB184 (Levine)

  48. Incorporates HB1296 (Helmer)

  49. Incorporates HB1265 (Carroll Foy)

  50. Committee substitute printed 20106372D-H1

  51. Reported from Labor and Commerce with substitute (14-Y 8-N)

  52. House committee, floor amendments and substitutes offered

  53. Referred to Committee on Labor and Commerce

  54. Prefiled and ordered printed; offered 01/08/20 20104677D

Sponsors

Sponsorship breakdown

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1 sponsors · 42 co-sponsors · 105 not signed on · 59 voted No

Sponsors (1)

Co-sponsors (42)

Not signed on (105)

105 members have not signed on to this bill.

Show all 105 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Senate concurred in Governor's recommendation (22-Y 18-N)

Passed 22 Yea · 18 Nay
Party YeaNayPresentNot Voting
Unaffiliated 221800
Total 221800
% of votes cast 55%45%0%0%
How each member voted (40)
Member Party Vote
Chafin, A. Benton "Ben" — Nay
McClellan, Jennifer L. — Yea
Morrissey, Joseph D. — Yea
Spruill, Lionell, Sr. — Yea
Barbara A. Favola — Yea
Barker, George L. — Yea
Bell, John J. — Yea
Bill DeSteph — Nay
Bryce E. Reeves — Nay
Chase, Amanda F. — Nay
Cosgrove, John A., Jr. — Yea
David R. Suetterlein — Yea
David W. Marsden — Nay
Dunnavant, Siobhan S. — Nay
Ebbin, Adam P. — Yea
Edwards, John S. — Yea
Hanger, Emmett W., Jr. — Nay
Hashmi, Ghazala F. — Yea
Howell, Janet D. — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
Kiggans, Jennifer A. — Nay
L. Louise Lucas — Yea
Lewis, Lynwood W., Jr. — Nay
Mamie E. Locke — Yea
Mark D. Obenshain — Nay
Mark J. Peake — Nay
Mason, T. Montgomery "Monty" — Yea
Newman, Stephen D. — Nay
Norment, Thomas K., Jr. — Nay
Petersen, J. Chapman — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Nay
Ruff, Frank M., Jr. — Nay
Ryan T. McDougle — Nay
Saslaw, Richard L. — Yea
Scott A. Surovell — Yea
Todd E. Pillion — Nay
Vogel, Jill Holtzman — Yea
William M. Stanley, Jr. — Nay

Official roll call →

VOTE: (54-Y 41-N)

Passed 53 Yea · 41 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 534105
Total 534105
% of votes cast 54%41%0%5%
How each member voted (99)
Member Party Vote
Brewer, Emily M. — Nay
Collins, Christopher E. — Nay
Lindsey, Joseph C. — Yea
Adams, Dawn M. — Yea
Adams, Les R. — Yea
Aird, Lashrecse D. — Yea
Alfonso H. Lopez — Yea
Askew, Alex Q. — Yea
Avoli, G. "John" — Yea
Ayala, Hala S. — Yea
Batten, Amanda E. — Nay
Bell, Robert B. — Nay
Betsy B. Carr — Not Voting
Bourne, Jeffrey M. — Yea
Bulova, David L. — Yea
Byron, Kathy J. — Nay
C.E. Cliff Hayes, Jr. — Yea
Campbell, Jeffrey L. — Nay
Campbell, Ronnie R. — Nay
Carroll Foy, Jennifer D. — Yea
Carter, Lee J. — Yea
Charniele L. Herring — Yea
Chris S. Runion — Nay
Christopher T. Head — Nay
Cole, Mark L. — Nay
Convirs-Fowler, Kelly K. — Not Voting
Cox, M. Kirkland — Nay
Coyner, Carrie E. — Nay
Dan I. Helmer — Yea
Danica A. Roem — Yea
David A. Reid — Yea
Davis, Glenn R. — Nay
Delores L. McQuinn — Yea
Don Scott — Yea
Edmunds, James E., II — Not Voting
Fariss, C. Matthew — Nay
Fowler, Hyland F."Buddy," Jr. — Nay
Freitas, Nicholas J. — Nay
Gilbert, C. Todd — Nay
Gooditis, Wendy W. — Yea
Guy, Nancy D. — Not Voting
Guzman, Elizabeth R. — Yea
Heretick, Steve E. — Yea
Hudson, Sally L. — Yea
Hurst, Chris L. — Yea
Israel D. O'Quinn — Nay
James A. "Jay" Leftwich — Nay
James W. Morefield — Nay
Jeion A. Ward — Yea
Jenkins, Clinton L. — Yea
Jones, Jerrauld C. "Jay" — Yea
Joseph P. McNamara — Nay
Joshua G. Cole — Yea
Karrie K. Delaney — Yea
Kathy K.L. Tran — Yea
Keam, Mark L. — Yea
Knight, Barry D. — Nay
Kory, Kaye — Not Voting
LaRock, Dave A. — Nay
Lamont Bagby — Yea
Levine, Mark H. — Yea
Luke E. Torian — Yea
M. Keith Hodges — Nay
Marcia S. "Cia" Price — Yea
Marcus B. Simon — Yea
Marshall, Daniel W., III — Nay
McGuire, John J., III — Nay
Michael J. Webert — Nay
Miyares, Jason S. — Yea
Mugler, Martha M. — Yea
Mullin, Michael P. — Yea
Murphy, Kathleen — Yea
Orrock, Robert D., Sr. — Nay
Patrick A. Hope — Yea
Paul E. Krizek — Yea
Plum, Kenneth R. — Yea
Poindexter, Charles D. — Nay
R. Lee Ware — Nay
Ransone, Margaret B. — Nay
Richard C. "Rip" Sullivan, Jr. — Yea
Robert S. Bloxom, Jr. — Nay
Robinson, Roxann L. — Nay
Rodney T. Willett — Yea
Rush, Nick — Nay
Sam Rasoul — Yea
Samirah, Ibraheem S. — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Wyatt — Nay
Shelly A. Simonds — Yea
Sickles, Mark D. — Yea
Subramanyam, Suhas — Yea
Terry G. Kilgore — Nay
Terry L. Austin — Nay
Thomas C. Wright, Jr. — Nay
Tony O. Wilt — Nay
Tyler, Roslyn C. — Yea
Vivian E. Watts — Yea
Wampler, William C., III — Nay
Wendell S. Walker — Nay

Official roll call →

VOTE: Adoption (62-Y 30-N)

Passed 61 Yea · 30 Nay · 8 Other
Party YeaNayPresentNot Voting
Unaffiliated 613008
Total 613008
% of votes cast 62%30%0%8%
How each member voted (99)
Member Party Vote
Brewer, Emily M. — Yea
Collins, Christopher E. — Nay
Lindsey, Joseph C. — Yea
Adams, Dawn M. — Yea
Adams, Les R. — Yea
Aird, Lashrecse D. — Yea
Alfonso H. Lopez — Yea
Askew, Alex Q. — Yea
Avoli, G. "John" — Nay
Ayala, Hala S. — Yea
Batten, Amanda E. — Yea
Bell, Robert B. — Nay
Betsy B. Carr — Yea
Bourne, Jeffrey M. — Yea
Bulova, David L. — Yea
Byron, Kathy J. — Nay
C.E. Cliff Hayes, Jr. — Yea
Campbell, Jeffrey L. — Not Voting
Campbell, Ronnie R. — Nay
Carroll Foy, Jennifer D. — Yea
Carter, Lee J. — Yea
Charniele L. Herring — Yea
Chris S. Runion — Yea
Christopher T. Head — Yea
Cole, Mark L. — Nay
Convirs-Fowler, Kelly K. — Not Voting
Cox, M. Kirkland — Nay
Coyner, Carrie E. — Yea
Dan I. Helmer — Yea
Danica A. Roem — Yea
David A. Reid — Yea
Davis, Glenn R. — Nay
Delores L. McQuinn — Yea
Don Scott — Yea
Edmunds, James E., II — Nay
Fariss, C. Matthew — Nay
Fowler, Hyland F."Buddy," Jr. — Nay
Freitas, Nicholas J. — Nay
Gilbert, C. Todd — Nay
Gooditis, Wendy W. — Yea
Guy, Nancy D. — Yea
Guzman, Elizabeth R. — Yea
Heretick, Steve E. — Yea
Hudson, Sally L. — Yea
Hurst, Chris L. — Yea
Israel D. O'Quinn — Nay
James A. "Jay" Leftwich — Nay
James W. Morefield — Nay
Jeion A. Ward — Yea
Jenkins, Clinton L. — Yea
Jones, Jerrauld C. "Jay" — Yea
Joseph P. McNamara — Not Voting
Joshua G. Cole — Not Voting
Karrie K. Delaney — Yea
Kathy K.L. Tran — Yea
Keam, Mark L. — Yea
Knight, Barry D. — Nay
Kory, Kaye — Yea
LaRock, Dave A. — Nay
Lamont Bagby — Yea
Levine, Mark H. — Yea
Luke E. Torian — Yea
M. Keith Hodges — Yea
Marcia S. "Cia" Price — Yea
Marcus B. Simon — Yea
Marshall, Daniel W., III — Nay
McGuire, John J., III — Nay
Michael J. Webert — Nay
Miyares, Jason S. — Yea
Mugler, Martha M. — Yea
Mullin, Michael P. — Yea
Murphy, Kathleen — Nay
Orrock, Robert D., Sr. — Nay
Patrick A. Hope — Yea
Paul E. Krizek — Yea
Plum, Kenneth R. — Yea
Poindexter, Charles D. — Not Voting
R. Lee Ware — Nay
Ransone, Margaret B. — Nay
Richard C. "Rip" Sullivan, Jr. — Not Voting
Robert S. Bloxom, Jr. — Yea
Robinson, Roxann L. — Nay
Rodney T. Willett — Yea
Rush, Nick — Yea
Sam Rasoul — Yea
Samirah, Ibraheem S. — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Wyatt — Yea
Shelly A. Simonds — Yea
Sickles, Mark D. — Yea
Subramanyam, Suhas — Yea
Terry G. Kilgore — Nay
Terry L. Austin — Not Voting
Thomas C. Wright, Jr. — Not Voting
Tony O. Wilt — Nay
Tyler, Roslyn C. — Yea
Vivian E. Watts — Yea
Wampler, William C., III — Nay
Wendell S. Walker — Nay

Official roll call →

Constitutional reading dispensed (38-Y 0-N)

Passed 38 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 38002
Total 38002
% of votes cast 95%0%0%5%
How each member voted (40)
Member Party Vote
Chafin, A. Benton "Ben" — Yea
McClellan, Jennifer L. — Yea
Morrissey, Joseph D. — Yea
Spruill, Lionell, Sr. — Yea
Barbara A. Favola — Yea
Barker, George L. — Yea
Bell, John J. — Yea
Bill DeSteph — Yea
Bryce E. Reeves — Yea
Chase, Amanda F. — Yea
Cosgrove, John A., Jr. — Yea
David R. Suetterlein — Yea
David W. Marsden — Yea
Dunnavant, Siobhan S. — Yea
Ebbin, Adam P. — Yea
Edwards, John S. — Yea
Hanger, Emmett W., Jr. — Yea
Hashmi, Ghazala F. — Yea
Howell, Janet D. — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Not Voting
Kiggans, Jennifer A. — Yea
L. Louise Lucas — Yea
Lewis, Lynwood W., Jr. — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Yea
Mark J. Peake — Yea
Mason, T. Montgomery "Monty" — Yea
Newman, Stephen D. — Yea
Norment, Thomas K., Jr. — Yea
Petersen, J. Chapman — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Yea
Ruff, Frank M., Jr. — Yea
Ryan T. McDougle — Yea
Saslaw, Richard L. — Not Voting
Scott A. Surovell — Yea
Todd E. Pillion — Yea
Vogel, Jill Holtzman — Yea
William M. Stanley, Jr. — Yea

Official roll call →

Passed Senate with substitute (28-Y 12-N)

Passed 28 Yea · 12 Nay
Party YeaNayPresentNot Voting
Unaffiliated 281200
Total 281200
% of votes cast 70%30%0%0%
How each member voted (40)
Member Party Vote
Chafin, A. Benton "Ben" — Yea
McClellan, Jennifer L. — Yea
Morrissey, Joseph D. — Yea
Spruill, Lionell, Sr. — Yea
Barbara A. Favola — Yea
Barker, George L. — Yea
Bell, John J. — Yea
Bill DeSteph — Nay
Bryce E. Reeves — Nay
Chase, Amanda F. — Nay
Cosgrove, John A., Jr. — Yea
David R. Suetterlein — Yea
David W. Marsden — Yea
Dunnavant, Siobhan S. — Nay
Ebbin, Adam P. — Yea
Edwards, John S. — Yea
Hanger, Emmett W., Jr. — Yea
Hashmi, Ghazala F. — Yea
Howell, Janet D. — Yea
Jennifer B. Boysko — Yea
Jeremy S. McPike — Yea
Kiggans, Jennifer A. — Nay
L. Louise Lucas — Yea
Lewis, Lynwood W., Jr. — Yea
Mamie E. Locke — Yea
Mark D. Obenshain — Nay
Mark J. Peake — Nay
Mason, T. Montgomery "Monty" — Yea
Newman, Stephen D. — Nay
Norment, Thomas K., Jr. — Yea
Petersen, J. Chapman — Yea
R. Creigh Deeds — Yea
Richard H. Stuart — Nay
Ruff, Frank M., Jr. — Yea
Ryan T. McDougle — Nay
Saslaw, Richard L. — Yea
Scott A. Surovell — Yea
Todd E. Pillion — Nay
Vogel, Jill Holtzman — Yea
William M. Stanley, Jr. — Nay

Official roll call →

Reported from Finance and Appropriations (14-Y 0-N)

Passed 14 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 14000
Total 14000
% of votes cast 100%0%0%0%
How each member voted (14)
Member Party Vote
McClellan, Jennifer L. — Yea
Barker, George L. — Yea
David W. Marsden — Yea
Ebbin, Adam P. — Yea
Hanger, Emmett W., Jr. — Yea
Howell, Janet D. — Yea
Mamie E. Locke — Yea
Newman, Stephen D. — Yea
Norment, Thomas K., Jr. — Yea
Petersen, J. Chapman — Yea
R. Creigh Deeds — Yea
Ruff, Frank M., Jr. — Yea
Saslaw, Richard L. — Yea
Vogel, Jill Holtzman — Yea

Official roll call →

Reported from Commerce and Labor with substitute (11-Y 4-N)

Passed 11 Yea · 4 Nay
Party YeaNayPresentNot Voting
Unaffiliated 11400
Total 11400
% of votes cast 73%27%0%0%
How each member voted (15)
Member Party Vote
Spruill, Lionell, Sr. — Yea
Barker, George L. — Yea
Bell, John J. — Yea
David W. Marsden — Yea
Ebbin, Adam P. — Yea
Edwards, John S. — Yea
L. Louise Lucas — Yea
Lewis, Lynwood W., Jr. — Yea
Mark D. Obenshain — Nay
Mason, T. Montgomery "Monty" — Yea
Newman, Stephen D. — Nay
Norment, Thomas K., Jr. — Nay
R. Creigh Deeds — Yea
Saslaw, Richard L. — Nay
Scott A. Surovell — Yea

Official roll call →

VOTE: Passage (65-Y 33-N)

Passed 64 Yea · 33 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 643302
Total 643302
% of votes cast 65%33%0%2%
How each member voted (99)
Member Party Vote
Brewer, Emily M. — Yea
Collins, Christopher E. — Nay
Lindsey, Joseph C. — Yea
Adams, Dawn M. — Yea
Adams, Les R. — Yea
Aird, Lashrecse D. — Yea
Alfonso H. Lopez — Yea
Askew, Alex Q. — Yea
Avoli, G. "John" — Nay
Ayala, Hala S. — Yea
Batten, Amanda E. — Yea
Bell, Robert B. — Nay
Betsy B. Carr — Yea
Bourne, Jeffrey M. — Yea
Bulova, David L. — Yea
Byron, Kathy J. — Nay
C.E. Cliff Hayes, Jr. — Yea
Campbell, Jeffrey L. — Nay
Campbell, Ronnie R. — Nay
Carroll Foy, Jennifer D. — Yea
Carter, Lee J. — Yea
Charniele L. Herring — Yea
Chris S. Runion — Yea
Christopher T. Head — Yea
Cole, Mark L. — Nay
Convirs-Fowler, Kelly K. — Yea
Cox, M. Kirkland — Nay
Coyner, Carrie E. — Yea
Dan I. Helmer — Yea
Danica A. Roem — Yea
David A. Reid — Yea
Davis, Glenn R. — Nay
Delores L. McQuinn — Yea
Don Scott — Yea
Edmunds, James E., II — Nay
Fariss, C. Matthew — Nay
Fowler, Hyland F."Buddy," Jr. — Nay
Freitas, Nicholas J. — Nay
Gilbert, C. Todd — Nay
Gooditis, Wendy W. — Yea
Guy, Nancy D. — Yea
Guzman, Elizabeth R. — Yea
Heretick, Steve E. — Yea
Hudson, Sally L. — Yea
Hurst, Chris L. — Yea
Israel D. O'Quinn — Nay
James A. "Jay" Leftwich — Nay
James W. Morefield — Nay
Jeion A. Ward — Yea
Jenkins, Clinton L. — Yea
Jones, Jerrauld C. "Jay" — Yea
Joseph P. McNamara — Not Voting
Joshua G. Cole — Yea
Karrie K. Delaney — Yea
Kathy K.L. Tran — Yea
Keam, Mark L. — Yea
Knight, Barry D. — Nay
Kory, Kaye — Yea
LaRock, Dave A. — Nay
Lamont Bagby — Yea
Levine, Mark H. — Yea
Luke E. Torian — Yea
M. Keith Hodges — Yea
Marcia S. "Cia" Price — Yea
Marcus B. Simon — Yea
Marshall, Daniel W., III — Nay
McGuire, John J., III — Nay
Michael J. Webert — Not Voting
Miyares, Jason S. — Yea
Mugler, Martha M. — Yea
Mullin, Michael P. — Yea
Murphy, Kathleen — Yea
Orrock, Robert D., Sr. — Nay
Patrick A. Hope — Yea
Paul E. Krizek — Yea
Plum, Kenneth R. — Yea
Poindexter, Charles D. — Nay
R. Lee Ware — Nay
Ransone, Margaret B. — Nay
Richard C. "Rip" Sullivan, Jr. — Yea
Robert S. Bloxom, Jr. — Yea
Robinson, Roxann L. — Nay
Rodney T. Willett — Yea
Rush, Nick — Yea
Sam Rasoul — Yea
Samirah, Ibraheem S. — Yea
Schuyler T. VanValkenburg — Yea
Scott A. Wyatt — Nay
Shelly A. Simonds — Yea
Sickles, Mark D. — Yea
Subramanyam, Suhas — Yea
Terry G. Kilgore — Nay
Terry L. Austin — Nay
Thomas C. Wright, Jr. — Nay
Tony O. Wilt — Nay
Tyler, Roslyn C. — Yea
Vivian E. Watts — Yea
Wampler, William C., III — Nay
Wendell S. Walker — Nay

Official roll call →

Reported from Labor and Commerce with substitute (14-Y 8-N)

Passed 14 Yea · 8 Nay
Party YeaNayPresentNot Voting
Unaffiliated 14800
Total 14800
% of votes cast 64%36%0%0%
How each member voted (22)
Member Party Vote
Kory, Kaye — Yea
Keam, Mark L. — Yea
Lindsey, Joseph C. — Yea
Heretick, Steve E. — Yea
Mullin, Michael P. — Yea
Bourne, Jeffrey M. — Yea
Ayala, Hala S. — Yea
Gooditis, Wendy W. — Yea
Byron, Kathy J. — Nay
Marshall, Daniel W., III — Nay
Ransone, Margaret B. — Nay
Alfonso H. Lopez — Yea
Christopher T. Head — Yea
Elizabeth R. Guzman — Yea
Israel D. O'Quinn — Nay
Jeion A. Ward — Yea
Lamont Bagby — Yea
Michael J. Webert — Nay
R. Lee Ware — Nay
Richard C. "Rip" Sullivan, Jr. — Yea
Terry G. Kilgore — Nay
Tony O. Wilt — Nay

Official roll call →

Subjects

finance
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Frequently asked questions

What does HB 789 do?
Consumer lending. Replaces references to payday loans with the term "short-term loans." The measure caps the interest and fees that may be charged under a short-term loan at an annual rate of 36 percent, plus a maintenance fee; increases the maximum amount of such loans from $500 to $2,500; and sets the duration of such loans at a minimum of four months, subject to exceptions, and a maximum of 24 months. Short-term loan licensees are required to make a reasonable attempt to verify a borrower's income and may not collect fees and charges that exceed 50 percent of the original loan amount if such amount is equal to or less than $1,500 and 60 percent of the original loan amount if such amount is greater than $1,500. The measure amends the requirements for motor vehicle title loans, including requiring licensed lenders to use a database to determine a prospective borrower's eligibility for a loan and prohibiting loans to a borrower who has an outstanding short-term loan. The measure sets a 36-percent annual interest rate cap on open-end credit plans and allows a $50 annual participation fee. A violation of these provisions is made a prohibited practice under the Virginia Consumer Protection Act. The measure amends provisions of the Consumer Finance Act to, among other things, allow licensed lenders to use the services of access partners and establish requirements that loans be between $300 and $35,000; be repayable in substantially equal installment payments; have a term of no fewer than six and no more than 120 months; charge not more than 36 percent annual interest and a loan processing fee; and require licensees to post a bond. The measure prohibits credit service businesses from advertising, offering, or performing other services in connection with an extension of credit that has an annual interest rate exceeding 36 percent, is for less than $5,000, has a term of less than one year, or is provided under an open-end credit plan. The bill has a delayed effective date of July 1, 2021, and requires any person who would be required to be licensed under the provisions of the act to apply for a license by April 1, 2021. This bill is identical to SB 421.
Who sponsors HB 789?
HB 789 is sponsored by Schuyler T. VanValkenburg, Rodney T. Willett, Lamont Bagby, Sam Rasoul, Jeion A. Ward, Betsy B. Carr, Joshua G. Cole, Karrie K. Delaney, C.E. Cliff Hayes, Jr., Dan I. Helmer, Charniele L. Herring, Patrick A. Hope, Paul E. Krizek, Alfonso H. Lopez, Delores L. McQuinn, Alex Q. Askew, Marcia S. "Cia" Price, Danica A. Roem, Don Scott, Marcus B. Simon, Shelly A. Simonds, Luke E. Torian, Kathy K.L. Tran, Elizabeth R. Guzman, David L. Bulova, Tyler, Roslyn C., Subramanyam, Suhas, Samirah, Ibraheem S., Plum, Kenneth R., Murphy, Kathleen, Mullin, Michael P., Mugler, Martha M., Kory, Kaye, Keam, Mark L., Jenkins, Clinton L., Hurst, Chris L., Heretick, Steve E., Guy, Nancy D., Gooditis, Wendy W., Ayala, Hala S., Aird, Lashrecse D., Levine, Mark H., and Bourne, Jeffrey M..
What is the current status of HB 789?
This bill has been enacted into law. Introduced January 07, 2020. Enacted.
Where can I track HB 789?
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