All Roll Calls
Yes: 184 • No: 42
TennesseeSB 0766114th General Assembly (2025-2026)SenateWALLET
AN ACT to amend Tennessee Code Annotated, Title 56, Chapter 37, relative to premium finance companies.
Sponsored By: Sponsor information unavailable
Signed by Governor
Banks and Financial Institutions
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
Electronic payment fees capped for insurance borrowers
Tennessee's licensed premium finance companies can charge convenience fees when borrowers pay electronically, including by credit or debit card. Fees cannot exceed actual third-party processing costs, or the average costs across electronic payment types charged the fee. When a parent company processes payments for its subsidiary, the parent's processing costs count as third-party costs. Companies must disclose the fee before completing payment and let borrowers cancel without a fee. Borrowers must also have a fee-free option to pay directly by check, cash, or money order. Convenience fees are nonrefundable and can be added to other legally allowed interest and fees. Companies cannot charge them on debit or prepaid cards when the card network's contract, rules, or policies prohibit them. These rules took effect when the act became law.
Insurance borrowers face returned-payment fees
Licensed premium finance companies can charge a handling fee when a bank rejects a payment toward a loan or credit. This covers checks, drafts, card payments, electronic transfers, electronic checks, and other electronic payment instruments. The fee follows Tennessee's existing handling-charge law; this act does not state a dollar amount. Companies can collect only one handling charge for each check or electronic debit authorization. They can redeposit the payment instrument or return it to the borrower when it is redeemed. Charges covered by this section, including convenience and handling fees, do not count toward limits on excessive interest.
Sponsors & Cosponsors
Sponsors
There is no primary sponsor on record.
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 4/14/2025
FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 4/14/2025
Yes: 82 • No: 12
House vote • 4/14/2025
HOUSE CALENDAR & RULES COMMITTEE
Yes: 17 • No: 3
House vote • 4/3/2025
FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 4/3/2025
Yes: 48 • No: 27
Senate vote • 3/10/2025
FLOOR VOTE: Motion to Adopt 3/10/2025
Yes: 30 • No: 0
Senate vote • 3/4/2025
SENATE COMMERCE AND LABOR COMMITTEE
Yes: 7 • No: 0
Actions Timeline
Effective date(s) 04/24/2025
4/29/2025Pub. Ch. 258
4/29/2025Signed by Governor.
4/24/2025SenateTransmitted to Governor for action.
4/21/2025SenateSigned by H. Speaker
4/21/2025HouseSigned by Senate Speaker
4/17/2025SenateEnrolled and ready for signatures
4/16/2025SenatePassed H., Ayes 82, Nays 12, PNV 0
4/14/2025HouseH. Placed on Regular Calendar for 4/14/2025
4/10/2025HousePlaced on cal. Calendar & Rules Committee for 4/10/2025
4/9/2025HouseRe-ref. Calendar & Rules Committee
4/3/2025HouseSubst. for comp. HB.
4/3/2025HouseRcvd. from S., held on H. desk.
3/13/2025HouseEngrossed; ready for transmission to House
3/10/2025SenatePassed Senate, Ayes 30, Nays 0
3/10/2025SenatePlaced on Senate Consent Calendar 2 for 3/10/2025
3/7/2025SenateRecommended for passage, refer to Senate Calendar Committee
3/4/2025SenatePlaced on Senate Commerce and Labor Committee calendar for 3/4/2025
2/25/2025SenatePlaced on Senate Commerce and Labor Committee calendar for 3/4/2025
2/25/2025SenatePassed on Second Consideration, refer to Senate Commerce and Labor Committee
2/12/2025SenateIntroduced, Passed on First Consideration
2/10/2025SenateFiled for introduction
2/4/2025Senate
Bill Text
Enrolled / Public Chapter
Fiscal Note
Introduced
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