House Bill 585 Summary

• Revises administrative enforcement procedures by requiring the administrator to provide notice pursuant to section 67-5242 before issuing cease and desist orders for Idaho Credit Code violations, except for unlicensed persons engaging in fraudulent or unconscionable conduct.

• Modifies civil actions available to the administrator to recover actual damages from creditors and establishes civil penalties of no more than $5,000 for repeated and intentional violations occurring within two years of the action.

• Changes license renewal deadline from May 31 to December 31 and removes the requirement that applicants reimburse the administrator for hearing expenses related to license applications.

• Standardizes how written deficiency notices are deemed received across license applications for both regulated consumer loans and payday loans through U.S. mail, email, or posting on the NMLSR system.

• Updates technical language regarding license qualifications, suspension, and revocation procedures to clarify standards such as "lack of due care" and replaces references to "which" with "that" throughout the statute.