2021 House Bill 4628

Increase allowable pawnbroker interest rate

Introduced in the House

April 13, 2021

Introduced by Rep. Pamela Hornberger (R-32)

To increase the maximum interest rate a pawnbroker may charge on merchandise-backed loans from 3 percent per month to 4 percent per month.

Referred to the Committee on Regulatory Reform

Feb. 22, 2022

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

Referred to the Committee on Rules and Competitveness