Rhode Island House Bill 7850: Allows RI to opt out of the provisions of DIDMCA exempting out of state lenders from interest rate limits which apply to RI lenders. Prevents evasion of statutory interest rate limits and lending rules for loans made in RI.

Rhode Island · 2026 session

What it does

COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- INTEREST AND USURY - Allows RI to opt out of the provisions of DIDMCA exempting out of state lenders from interest rate limits which apply to RI lenders. Prevents evasion of statutory interest rate limits and lending rules for loans made in RI.

Latest action

Committee recommended measure be held for further study (2026-03-03)

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