HI HCR66

Requests the Auditor to conduct a follow-up analysis to Report No. 05-11 on payday loans, which was issued in December 2005 and is now over fourteen years old.

Directs the Auditor to determine the number of storefront and internet check cashing companies operating under Chapter 480F, Hawaii Revised Statutes, and collect data on their use, complaints, and consumer impact.

Requires analysis of licensure and regulatory options for short-term lenders and check cashers, including comparison with regulations in other states and their economic impacts on interest rates, fees, and annual percentage rates.

Mandates review of payday lender complaints to the Department of Commerce and Consumer Affairs from the past ten years and analysis of alternative credit products available to consumers.

Requires the Auditor to submit findings, recommendations, and any proposed legislation to the Legislature no later than twenty days prior to the 2021 Regular Session convening.