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IntroducedFeb 06, 2025
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Passed Senate
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Passed House
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Signed into Law
AN ACT CONCERNING CONSUMER CREDIT AND COMMERCIAL FINANCING. To: (1) Require cancellations of certain surety bonds to be submitted electronically; (2) modify procedures regarding changes to the legal names of certain licensees; (3) redefine "sales finance company"; (4) establish procedures for registering as an exempt mortgage servicer registrant; (5) establish requirements regarding private student education loan cosigner releases; (6) establish enforcement authority regarding registrants; (7) prohibit receiving fees in connection with small loans without a license; (8) redefine "mortgage servicer" and "servicing"; (9) define "private education lender" and "private education loan creditor"; (10) establish requirements regarding timelines and fees for certain registrants that are exempt from licensing; (11) modify various statutes relating to commercial financing; (12) modify registration and enforcement procedures regarding private education lenders and private education loan creditors; (13) require certain disclosures in connection with shared appreciation agreements; (14) make technical changes to various statutes regarding consumer credit; and (15) redefine "system".
Last Action See all actions
Senate • May 13, 2025: Favorable Report, Tabled for the Calendar, Senate
Latest Bill Text See all bill texts
Senate Calendar: Senate Calendar, May 19, 2025
Position: 146
Summary/Bill Text
Comments on SB 1257
Tweets
Whip Lists
Sponsors
- Banking Committeeprimary
Votes
YES: 12
- Doucette J
- Miller P
- Delnicki T
- Berthel E
- Santos F
- Honig P
- Baker A
- Foster J
- Hochadel J
- Gee F
- Hoxha J
- Gaiewski D
NO: 0
ABSENT: 1
- Aniskovich C
YES: 40
- Winfield G
- Osborne M
- Stafstrom S
- Pavalock-D'Amato C
- Flexer M
- Perillo J
- Gadkar-Wilcox S
- Quinn M
- Fazzino J
- Rahman M
- Kissel J
- Roberts K
- Fishbein C
- Rutigliano D
- Blumenthal M
- Simms T
- Veach D
- Cabrera J
- Walker T
- Callahan P
- Wilson D
- Cicarella P
- DeCaprio M
- Delany H
- Dillon P
- Doucette J
- Dubitsky D
- Elliott J
- Gaston H
- Gilchrest J
- Godfrey B
- Howard G
- Jacobson J
- Johnson D
- Khan M
- LaMark Muir R
- Lesser M
- Maher C
- Miller P
- O'Dea T
NO: 0
ABSENT: 1
- Brown M
Actions
- May 13, 2025 | Senate
- Filed with Legislative Commissioners' Office (LCO)
- Reported Out of Legislative Commissioners' Office (LCO)
- No New File by Committee on Judiciary
- Favorable Report, Tabled for the Calendar, Senate
- May 12, 2025 | Senate
- Joint Favorable (JUD)
- May 08, 2025 | Senate
- Referred by Senate to Committee on Judiciary
- Immediate Transmittal
- Mar 24, 2025 | Senate
- Reported Out of Legislative Commissioners' Office (LCO)
- Favorable Report, Tabled for the Calendar, Senate
- Senate Calendar Number 146
- File Number 181 (LCO)
- Mar 17, 2025 | Senate
- Referred to Office of Legislative Research and Office of Fiscal Analysis 03/24/25 12:00 PM (LCO)
- Mar 06, 2025 | Senate
- Joint Favorable (BA)
- Filed with Legislative Commissioners' Office (LCO)
- Feb 07, 2025 | Senate
- Public Hearing 02/13
- Feb 06, 2025 | Senate
- Referred to Joint Committee on Banking