HB 1269 — Pawnbroker Fees and Interest Rates

Summary

HB 1269 Pawnbroker Fees and Interest Rates, a document that names Business Financial Services & Trade, Clint McCarthy and March 13, 2025. It sets out tables of loan preparation fees and other allowable charges under current law and under HB 1269. For current law, the maximum loan preparation fee listed for a loan of $50-$99.99 is 15 percent of the loan amount. Under HB 1269, the proposed loan preparation fee for a loan of $50 or more is 15 percent of the loan amount. The HB 1269 changes to other fees list a storage fee and an additional firearm fee, each per 30 day period.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Issuer: Congressional materials
Document type: Report
Date: 2025-03-13
Case: 2025 03 13 A32964 D283900 Scs Clint Mccarthy 1269 Bill Report Slide

Cite this document

“HB 1269 — Pawnbroker Fees and Interest Rates.” Original at app.leg.wa.gov, dated 2025-03-13. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2025-03-13-2025-03-13-a32964-d283900-scs-clint-mccarthy-1269-bill-report-slide/, SHA-256 14207bf191b5aed4900eb144adbef39d86f583acfb2a0defc714a6e0a360454f.

Full text

HB 1269
Pawnbroker Fees and
Interest Rates
                          Business
                      Financial Services
                              &
                            Trade
Clint McCarthy           Committee

March 13, 2025
 Loan Preparation Fees and Other Allowable Charges

   Current Law Loan Preparation Fees
                         Loan Amount       Maximum Charge Allowed for Loan Preparation Fees

$50-$99.99                             15 percent of the loan amount

$100-$249.99                           13 percent of the loan amount

$250-$499.99                           10 percent of the loan amount

$500-$999.99                           8 percent of the loan amount

$1000-$1499.99                         7.5 percent of the loan amount

$2000 or more                          6 percent of the loan amount


   Current Law Other Fees
                          Fee Type         Maximum Charge Allowed for Loan Preparation Fees

Storage Fee                            $5/30 day period.

Additional firearm fee                 $5/30 day period
 Loan Preparation Fees and Other Allowable Charges

   HB 1269 Proposed Loan Preparation Fees
                         Loan Amount      Maximum Charge Allowed for Loan Preparation Fees

$50 or more                            15 percent of the loan amount




   HB 1269 Changes to Other Fees
                          Fee Type        Maximum Charge Allowed for Loan Preparation Fees

Storage Fee                            $10/30 day period.

Additional firearm fee                 $10/30 day period

File and source

File: 2025-03-13_a32964_d283900_scs-clint-mccarthy-1269-bill-report-slide.pdf
Size: 172,085 bytes
SHA-256: 14207bf191b5aed4900eb144adbef39d86f583acfb2a0defc714a6e0a360454f
Our copy: 2025-03-13_a32964_d283900_scs-clint-mccarthy-1269-bill-report-slide.pdf
Original: app.leg.wa.gov