LA HB582

Maximum amount for deferred presentment transactions (payday loans) increases from $350 to $700

Finance charge cap changed to 16.75% of check face amount, removing the previous $45 maximum fee cap that applied to small loans

Office of Financial Institutions must publish annually by September 1st a new maximum outstanding principal balance, adjusted based on the Consumer Price Index for All Urban Consumers

Licensees are prohibited from reporting any negative customer information to credit bureaus or credit reporting services

Adds formal definition of "Consumer Price Index for All Urban Consumers" tied to U.S. Bureau of Labor Statistics data