ND HB1357

Increases the maximum allowable pawnbroking transaction amount from $1,000 to $10,000, exempt from usury limitations when made by licensed pawnbrokers.

Maintains the general usury rate ceiling at 5.5 percent above the average six-month U.S. Treasury bill rate, with a minimum floor of 7 percent.

Retains minimum interest charge of $15 and prohibits compounding of interest or interest on overdue interest.

Continues exemptions from usury laws for loans to corporations, limited liability companies, partnerships, loans exceeding $35,000, and loans made by state or federally regulated lending institutions.

Allows state-chartered banks and the Bank of North Dakota to charge interest rates equal to the maximum rates allowed for national banks and federally chartered savings and loan associations.