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AZ HB2569
Bill
Status
2/11/2014
Primary Sponsor
Debbie McCune-Davis
Click for details
AI Summary
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Amends Arizona law to require the superintendent of financial institutions to enforce federal military lending protections under 10 U.S.C. § 987 (John Warner National Defense Authorization Act) and 32 CFR Part 232, including examination of compliance.
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Grants the superintendent authority to enter into agreements with the federal trade commission to access the military sentinel network for enforcement purposes related to military lending protections.
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Makes violations of federal military lending protections in secondary motor vehicle finance transactions a violation of Arizona lending law, subject to enforcement and potential license suspension or revocation.
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Adds grounds for suspension or revocation of motor vehicle finance licenses for violation of any statute, rule, order, or written condition of the superintendent regarding secondary motor vehicle finance transactions.
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Allows the superintendent to suspend or revoke any other license issued by the department of financial institutions if a person's license has been suspended or revoked under licensing provisions.
Legislative Description
Auto title loans; military members
Last Action
Referred to House FI Committee
2/12/2014