Changes the laws regarding consumer credit interest rates

Summary

HB 3021 would limit the annual percentage rate on unsecured loans of five hundred dollars or less to 36%, require lenders to obtain a state license and post the maximum rate they charge, and mandate clear borrower notices and a one‑day cancellation right. It also bans deceptive loan structures, sets loan terms between 14 and 31 days, and limits renewals. The bill aims to curb predatory short‑term lending and protect consumers.

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