NC H810

Increases the loan amount limit under the North Carolina Consumer Finance Act from $10,000 to $15,000 for licensees operating under G.S. 53-176.

Modifies interest rate structures for installment loans: increases the threshold for 36% annual interest from $600 to $1,500, extends maximum loan repayment period from 84 to 96 months, and restructures tiered rates for loans under G.S. 53-176.

Adds borrower protections including 91-day waiting periods between loans, requirements for licensee notices about repayment benefits, mandatory acceptance of early/frequent payments, and prohibitions on concurrent loans with the same licensee unless the existing loan is paid in full.

Establishes a 16-member Legislative Study Commission to evaluate appropriate features, pricing, and availability of small-dollar loans under $3,000 and report recommendations to the 2012 General Assembly.

Requires military service members to obtain written authorization from their company commander before entering a loan agreement and mandates licensees maintain copies of military ID and authorization in loan files.