AK HB145

Simplifies interest rate structure for loans up to $25,000 by setting a uniform maximum rate of 3% per month, replacing previous tiered rates based on loan amount.

Expands small loan company licensing to include agents and service providers who hold economic interest in loans under $25,000 or structure transactions to evade licensing requirements.

Establishes participation in the Nationwide Multistate Licensing System and Registry for small loan company applications, renewals, and fee processing.

Changes licensing from single-office to location-based structure with $500 annual fee per branch, internet website, or mobile application and $2,000 for company-wide licenses.

Repeals all deferred deposit advance (payday loan) regulations under AS 06.50, eliminating separate licensing framework for payday lenders effective July 1, 2025.