STATEMENT OF PURPOSE
RS27823C1 / H0585
The purpose of this legislation is to make the licensing process for regulated lenders and payday lenders similar
to other entities licensed by the Idaho Department of Finance by requiring the use of a nationwide system
of licensing. Additionally, the legislation modifies provisions related to administrative and civil remedies
applicable to persons offering consumer credit in Idaho. Finally, the legislation reduces licensing requirements
applicable to regulated lenders and payday lenders.
FISCAL NOTE
The proposed legislation does not alter license application fees collected by the Department from licensees
or license applicants, and it does not alter the application of the Idaho Credit Code licensing requirements to
entities conducting covered activities in Idaho. There is no estimated fiscal impact to the Idaho Department of
Finance State Regulatory Fund (FIAA).
Contact:
Anthony Polidori
Department of Finance
(208) 332-8060
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 03/02/2020, 12:41 PM