Relating to consumer finance loans; and prescribing an effective date.
Chapter 113, (2026 Laws): Effective date June 5, 2026.
Summary
The bill creates a 12‑member task force to examine how Oregonians use short‑term loans, the effects on households, and possible alternatives or safeguards. Members include borrowers, lenders, consumer‑advocacy groups, a financial‑institution representative, and state officials, and the task force must submit a report with recommendations by Dec. 15, 2026. The goal is to guide future laws that improve credit access for people who lack traditional banking options.
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