Delaware Bank Commissioner to hold a hearing to consider the adoption of a new Regulation Concerning Payday Loans
Regulation 2210 implements 78 Del. Laws Chapter 278 dealing with a type of short-term consumer loan commonly known as a “payday loan”. The proposed new regulation establishes standards for the administration and enforcement of the new statute, including among other things, the applicability of the new statutory requirements for short-term consumer loans, new procedures for making such loans, and the use of a new database for tracking such loans. The hearing will be held in the third floor hearing room of the Carvel State Office Building, 820 North French Street, Wilmington Delaware, 19801 on Wednesday, November 7, 2012, starting at 10:00 a.m. A copy of the public notice for this hearing containing the new regulation has been published in the October edition of the Delaware Register of Regulations and may be viewed at this link: View Public Notice for Hearing and New Regulation.
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More helpful info- You may submit comments in writing or orally at the hearing. Written comments must be received no later than Friday, October 19, 2012 by 4:30 p.m., and should be addressed to the attention of Rhonda West, Regulatory Specialist, Delaware Department of Insurance, 841 Silver Lake Boulevard, Dover, DE 19904. Also, those intending to provide oral comments at the hearing must notify Rhonda West at 302.674.7379 or Rhonda.West@state.de.us, no later than 4:30 p.m., Friday, October 19, 2012.