HB145 Summary

• Licensees must use a common database designated by the supervisor to verify that customers do not have outstanding deferred presentment transactions exceeding $500 across all lenders.

• Supervisor shall implement a real-time access database accessible to the supervisor and deferred presentment providers, with a fee not exceeding $0.75 per transaction for data submission.

• Each licensee must file an annual written report with the supervisor by May 1 containing business and operational information for the preceding calendar year.

• Supervisor shall annually publish an analysis and recapitulation of licensee reports regarding the utilization of deferred presentment services using reported information and database data.

• Act becomes effective January 1, 2015.