HI HCR133

Request the Auditor to conduct a follow-up analysis of payday loan regulations under Hawaii Revised Statutes chapter 480F to assess the status of prior recommendations from Report No. 05-11.

Require the Auditor to compare Hawaii's payday loan regulations with those in other states to evaluate relative regulatory approaches.

Require the Auditor to analyze the economic impact on consumers and payday loan providers in jurisdictions that have capped fees at an annual percentage rate of 36 percent.

Require the Auditor to analyze the availability and cost of alternative credit products to payday loans as substitutes.

Direct the Auditor to report findings, recommendations, and any proposed legislation to the Legislature no later than 20 days before the 2016 Regular Session begins.