HI HB2387

Amends the definition of "installment lender" or "lender" in Hawaii Revised Statutes Section 480J-1 to clarify that persons exempt under section 480J-32 are not considered installment lenders.

Removes language regarding agent relationships and third-party lenders regardless of exemption status, replacing it with clearer language that agents must be required by the chapter to be licensed.

Changes terminology from "consumer loan" to "installment loan" throughout the statute for consistency with defined terms.

Clarifies that the law is not intended to eliminate the ability of lenders to make low interest rate loans under Hawaii's interest and usury law.

Effective date: July 1, 2024.