All Roll Calls
Yes: 203 • No: 28
LouisianaHB 5822025 Regular SessionHouseWALLET
FINANCIAL INSTITUTIONS: Provides relative to deferred presentment transactions and small loans
Sponsored By: Jeremy LaCombe (Republican)
Became Law
Commerce, Consumer Protection and International AffairsCommerce
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Short-term lenders cannot report negative credit information
Louisiana lenders licensed to offer covered check-based loans or small loans cannot report negative information about their customers. The ban applies to reports sent to any credit bureau or credit reporting service.
Higher possible fees for short-term borrowers
Louisiana licensed lenders can charge up to 16.75% of the check amount for covered check-based loans and small loans. The old $45 fee cap no longer applies, so larger checks can carry higher fees. A covered small loan is a consumer loan of $350 or less, lasting no more than 60 days. The law defines a partial payment on either type of loan as $50 or more.
Bigger check-based loans with yearly balance limits
Louisiana raises the maximum cash paid to a check-based borrower from $350 to $700 per transaction. Under a written agreement, the licensed lender pays the check amount minus fees and holds it for up to 30 days. The Office of Financial Institutions must publish an updated maximum unpaid loan principal on its website by September 1 each year. It adjusts the previous limit using the prior year's July-to-July change in the U.S. city-average consumer price index. The measure covers all items and is not seasonally adjusted. The office rounds the result up to the nearest $10; the formula can raise or lower the balance limit.
Sponsors & Cosponsors
Sponsor
Jeremy LaCombe
Republican • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 6/4/2025
Read by title, roll called, yeas 87, nays 0, Senate amendments concurred in.
Yes: 87 • No: 0
Senate vote • 6/3/2025
Rules suspended. The amended bill was read by title, passed by a vote of 34 yeas and 2 nays, and ordered returned to the House. Motion to reconsider tabled.
Yes: 34 • No: 2
House vote • 5/12/2025
Read third time by title, amended, roll called on final passage, yeas 65, nays 26. Finally passed, title adopted, ordered to the Senate.
Yes: 65 • No: 26
House vote • 5/6/2025
Reported with amendments
Yes: 17 • No: 0
Actions Timeline
Sent to the Governor for executive approval.
6/9/2025HouseEnrolled and signed by the Speaker of the House.
6/8/2025HouseSigned by the President of the Senate.
6/8/2025SenateRead by title, roll called, yeas 87, nays 0, Senate amendments concurred in.
6/4/2025HouseRules suspended. The amended bill was read by title, passed by a vote of 34 yeas and 2 nays, and ordered returned to the House. Motion to reconsider tabled.
6/3/2025SenateReceived from the Senate with amendments.
6/3/2025HouseScheduled for concurrence on 06/04/2025.
6/3/2025HouseCommittee amendments read and adopted. Read by title and referred to the Legislative Bureau.
6/1/2025SenateReported without Legislative Bureau amendments. Read by title and passed to third reading and final passage.
6/1/2025SenateReported with amendments.
5/29/2025SenateRead second time by title and referred to the Committee on Commerce, Consumer Protection and International Affairs.
5/14/2025SenateReceived in the Senate. Read first time by title and placed on the Calendar for a second reading.
5/13/2025SenateRead third time by title, amended, roll called on final passage, yeas 65, nays 26. Finally passed, title adopted, ordered to the Senate.
5/12/2025HouseScheduled for floor debate on 05/12/2025.
5/8/2025HouseRead by title, amended, ordered engrossed, passed to 3rd reading.
5/7/2025HouseReported with amendments (17-0).
5/6/2025HouseRead by title, under the rules, referred to the Committee on Commerce.
4/14/2025HousePrefiled.
4/4/2025HouseUnder the rules, provisionally referred to the Committee on Commerce.
4/4/2025HouseBecomes Act No. 510 without the Governor's signature.
7/1/2024HouseEffective date: 08/01/2025.
7/1/2024House
Bill Text
Enacted
Engrossed
Enrolled
Introduced
Reengrossed
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