DE SB142

Limits interest rates on pension loans, advances, and lending agreements against individual pension payments to the legal rate in Delaware Code Section 2301(a) (5% over the Federal Reserve discount rate).

Requires all fees and other charges of any kind to be included when determining whether the interest rate exceeds the cap.

Exempts pension-related loans from the unlimited interest rate provision in Section 2301(c) that applies to loans exceeding $100,000 not secured by a principal residence mortgage.

Applies to loans, advances, or any type of lending agreement against the pension and/or pension payments of individual borrowers.