VirginiaHB13092026 Regular SessionHouseWALLET

Consumer finance companies; additional charges.

Sponsored By: Jason S. Ballard (Republican)

Became Law

Summary

Consumer finance companies; additional charges. Provides that, for the purposes of the prohibition on additional charges by consumer finance companies, exceptions to such prohibition include (i) charges for guaranteed asset protection waivers for the protection and benefit of the borrower in connection with any loan and (ii) charges for guaranteed asset protection insurance for the protection and benefit of the borrower in connection with any loan.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Limits on consumer loan extra fees

Virginia now limits what licensed consumer finance lenders can charge. Lenders may add the interest, allowed late fees, and one loan processing fee, plus a short list of extras. Allowed extras are: insurance premiums the lender actually paid for your protection (from an insurer or agent authorized in Virginia or another state); charges for guaranteed asset protection waivers or GAP insurance for your benefit. You can be billed the actual recordation fee; for loans over $100, lawful insurance against not recording is allowed, but the premium cannot be more than the recordation fee. A returned check handling fee is allowed up to $25 when your bank returns a check for no account or not enough funds. All other add‑on charges, like brokerage, commissions, or notary fees tied to the loan, are banned.

Sponsors & Cosponsors

Sponsor

  • Jason S. Ballard

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 215 • No: 1

Senate vote 3/5/2026

Passed Senate

Yes: 39 • No: 0

Senate vote 3/4/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 39 • No: 0

Senate vote 3/4/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/2/2026

Reported from Commerce and Labor

Yes: 12 • No: 1

House vote 2/17/2026

Read third time and passed House Block Vote

Yes: 97 • No: 0

House vote 2/12/2026

Reported from Labor and Commerce

Yes: 20 • No: 0

House vote 2/10/2026

Subcommittee recommends reporting

Yes: 8 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0464)

    4/8/2026Governor
  2. Approved by Governor-Chapter 464 (effective 7/1/2026)

    4/8/2026Governor
  3. Fiscal Impact Statement from State Corporation Commission (HB1309)

    4/6/2026House
  4. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/14/2026Governor
  5. Enrolled Bill communicated to Governor on March 14, 2026

    3/14/2026House
  6. Bill text as passed House and Senate (HB1309ER)

    3/12/2026House
  7. Enrolled

    3/12/2026House
  8. Signed by President

    3/12/2026Senate
  9. Signed by Speaker

    3/12/2026House
  10. Passed Senate (39-Y 0-N 0-A)

    3/5/2026Senate
  11. Read third time

    3/5/2026Senate
  12. Passed by for the day Block Vote (Voice Vote)

    3/4/2026Senate
  13. Constitutional reading dispensed Block Vote (on 2nd reading) (39-Y 0-N 0-A)

    3/4/2026Senate
  14. Rules suspended

    3/4/2026Senate
  15. Reported from Commerce and Labor (12-Y 1-N)

    3/2/2026Senate
  16. Referred to Committee on Commerce and Labor

    2/18/2026Senate
  17. Constitutional reading dispensed (on 1st reading)

    2/18/2026Senate
  18. Read third time and passed House Block Vote (97-Y 0-N 0-A)

    2/17/2026House
  19. Read second time and engrossed

    2/16/2026House
  20. Read first time

    2/15/2026House
  21. Reported from Labor and Commerce (20-Y 0-N)

    2/12/2026House
  22. Subcommittee recommends reporting (8-Y 0-N)

    2/10/2026House
  23. Assigned HCL sub: Subcommittee #1

    1/27/2026House
  24. Fiscal Impact Statement from State Corporation Commission (HB1309)

    1/25/2026House
  25. Referred to Committee on Labor and Commerce

    1/16/2026House

Bill Text

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