HB417 Summary

• Licensees must use a supervisor-designated database to verify customers do not have outstanding deferred presentment transactions exceeding $500 across all lenders and locations.

• Supervisor shall implement a common database with real-time access for deferred presentment providers and may impose a fee not to exceed $0.75 per transaction for data submission.

• Deferred presentment providers are protected from administrative penalties or civil liability when relying on database information, even if the information is inaccurate.

• Each licensee must file an annual written report with the supervisor by May 1 containing required business and operations information for each approved office.

• Supervisor shall publish an annual analysis and summary of reported information regarding deferred presentment services utilization; effective January 1, 2016.