STAND. COM. REP. NO.  456

 

Honolulu, Hawaii

                , 2019

 

RE:   H.B. No. 332

      H.D. 1

 

 

 

 

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirtieth State Legislature

Regular Session of 2019

State of Hawaii

 

Sir:

 

     Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 332, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO CHECK CASHING,"

 

begs leave to report as follows:

 

     The purpose of this measure is to:

 

     (1)  Provide for the registration and regulation of check cashers who conduct business in the State; and

 

     (2)  Require the State Auditor to update the sunrise analysis completed in 2005 regarding the regulation of payday lenders and deferred deposit agreements.

 

     Hawaiian Community Assets, Online Lenders Alliance, and Money Service Centers of Hawaii, Inc. supported this measure.  Maui Loan Inc. opposed this measure.  The Department of Commerce and Consumer Affairs and Office of the Auditor provided comments.

 

     As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 332, H.D. 1, and recommends that it be referred to your Committee on Finance.

 

 

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

 

 

 

 

____________________________

ROY M. TAKUMI, Chair