STAND. COM. REP. NO. 1807

Honolulu, Hawaii

, 2019

RE: H.R. No. 124

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.R. No. 124 entitled:

"HOUSE RESOLUTION REQUESTING THE AUDITOR TO CONDUCT A FOLLOW-UP ANALYSIS TO SUNRISE ANALYSIS: CHECK CASHING AND DEFERRED DEPOSIT AGREEMENTS (PAYDAY LOANS), REPORT NO. 05-11,"

begs leave to report as follows:

The purpose of this measure is to request the Auditor to conduct a follow-up analysis to its 2005 study, Sunrise Analysis: Check Cashing and Deferred Deposit Agreements (Payday Loans), Report No. 05-11 for the purpose of collecting data and making recommendations on regulation of payday lenders.

Hawaii Check Cashing and Money Service Centers of Hawaii, Inc. submitted testimony in support of this measure. The Department of Commerce and Consumer Affairs and Office of the Auditor submitted 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 concurs with the intent and purpose of H.R. No. 124 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