SB729 — Financial Institutions, Dept. of - As introduced, requires the department to implement a database no later than January 1, 2021, for licensees providing deferred presentment and flex loan transactions to ensure that customers are not exceeding certain limits for such transactions; requires licensees to conduct database checks before entering into such transactions; authorizes a fee per transaction. - Amends TCA Title 45, Chapter 1; Title 45, Chapter 12 and Title 45, Chapter 17.

SB729 — Financial Institutions, Dept. of - As introduced, requires the department to implement a database no later than January 1, 2021, for licensees providing deferred presentment and flex loan transactions to ensure that customers are not exceeding certain limits for such transactions; requires licensees to conduct database checks before entering into such transactions; authorizes a fee per transaction. - Amends TCA Title 45, Chapter 1; Title 45, Chapter 12 and Title 45, Chapter 17. · Informed CitizenryThis bill requires the Department of Financial Institutions to establish and maintain a common database for licensees providing flex loan plans and deferred presentment services. The database is in…Open in Informed Citizenry