FINANCIAL REG-FEES-INVESTIGATE

Summary

If enacted, this bill would remove annual investigation requirements for currency exchange businesses and establish fee-setting provisions for the administration of several financial services Acts, including the Sales Finance Agency Act, Consumer Installment Loan Act, Safety Deposit License Act, Debt Management Service Act, Debt Settlement Consumer Protection Act, and Payday Loan Reform Act. It also modifies the examination and investigation authority of the Secretary and Director of the Division of Financial Institutions for those Acts. The changes affect non-bank financial entities such as currency exchanges, sales finance companies, consumer installment lenders, debt management/settlement providers, and payday lenders.