New Laws, New Laws, New Laws, New Laws, New Laws

By January 1, 2011Around the States

From the National Conference of State Legislatures, “A wide range of new legislation goes into effect on Jan. 1, 2011.” 

Forty-five state legislatures, the District of Columbia, Guam, Virgin Islands and Puerto Rico met in regular session in 2010 and enacted 31,005 new laws. In 2011, all 50 states and territories will meet.

The National Conference of State Legislatures (NCSL) found a host of those state laws—in at least 26 states ranging from controversial to clever—that will become effective on New Year’s Day.

In Montana, payday lenders will be limited in the amount of fees and interest rates they can charge to borrowers. In Minnesota, retailers will be banned from selling children’s cups and bottles that contain bisphenol A (BPA). And in Delaware, Kansas and Kentucky, drivers will be prohibited from texting while driving.

 Associated Press, “New laws may not be on the books for very long“:

Revamped gun measures and tougher rules for payday lenders are among the laws set to take effect around the country on Jan. 1. But some of them may not be on the books for long.

This January, the statutes will kick in just as freshly elected governors and legislators arrive for work. And if new GOP majorities succeed in getting legislation repealed, the result may be sudden U-turns on issues that were only recently debated.

USA TODAY, “New laws hit the books in new year

Join the discussion One Comment

  • Payday Lending Rep says:

    It’s unfortunate that payday lenders are “limited in the amount of fees and interest rates they can charge to borrowers” because of the 36% APR cap. At a 36% APR, the total fee charged on a $100, two-week advance would be $1.38. Payday advance lenders could not cover the cost of originating a loan, let alone meeting employee payroll and benefits and other fixed business expenses. This just results in the elimination of an affordable credit choice for consumers.

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