HI SCR195

Request the Auditor to conduct a follow-up analysis to the 2005 Sunrise Analysis on check cashing and payday loans (Report No. 05-11), as the original data is over a decade old and recommendations were not adopted by the Legislature.

Auditor must determine the number of storefront and internet companies operating under Hawaii Revised Statutes chapter 480F and collect data on usage, complaints, and consumer impact of short-term lending.

Auditor must compare Hawaii's regulation of check cashers and short-term lenders with regulations in other states, including analysis of interest rates, fees, repayment periods, and annual percentage rates.

Auditor must analyze payday lender complaints to the Department of Commerce and Consumer Affairs over the past ten years and examine the role of short-term lending in Hawaii's underserved and unbanked credit market.

Auditor must report findings, recommendations, and any proposed legislation to the Legislature no later than twenty days before the 2020 Regular Session convenes.