|
| | | Resolve, Authorizing the Office of Consumer Credit |
|
| | | Regulation To Study the Payday Advance Industry and Related |
|
| | | Consumer Credit Lending Issues in Maine |
|
| | | Sec. 1. Office of Consumer Credit Regulation authorized to study payday advance | | industry and related consumer credit lending issues in State. Resolved: That the | | Department of Professional and Financial Regulation, Office of | | Consumer Credit Regulation, in consultation with the Office of | | the Attorney General, the banking and lending industry and | | consumers, shall conduct a study on the current market for payday | | advance services and subprime lending practices in the State and | | related consumer protection laws and educational services; and be | | it further |
|
| | | Sec. 2. Reporting date established. Resolved: That the Department of | | Professional and Financial Regulation, Office of Consumer Credit | | Regulation shall report its findings under section 1, including any | | proposed legislation, to the Joint Standing Committee on Business, | | Research and Economic Development by February 1, 2006. |
|
|
