Resolve, Authorizing the Office of Consumer Credit Regulation To Study the Payday Advance Industry and Related Consumer Credit Lending Issues in Maine Further amend the bill by striking out everything after the title and before the summary and inserting in its place the following: Sec. I. Office of Consumer Credit Regulation authorized to study payday advance industry and related consumer credit lending issues in State. Resolved: That the Department of Professional and Financial Regulation, Office of Consumer Credit Regulation, in consultation with the Office of the Attorney General, the banking and lending industry and consumers, shall conduct a study on the current market for payday advance services and subprime lending practices in the State and related consumer protection laws and educational services; and be it further Sec. 2. Reporting date established. Resolved: That the Department of Professional and Financial Regulation, Office of Consumer Credit Regulation shall report its findings under section 1, including any proposed legislation, to the Joint Standing Committee on Business, Research and Economic Development by February 1, 2006. Page l-LR149l(2) COMMITTEE AMENDMENT
Maine Legislature, Session 122, LD 0788
Committee Amendment CA_A_H241 (House)

COMMITTEE AMENDMENT "~,, to H.P. 565, L.D. 788, Bill, "An 
Act 
To 
Establish 
Consumer 
Protections 
and 
Regulations 
for 
Deferred Deposit Loans" 
Amend the bill by striking out the title and substituting 
the following: 
'Resolve, Authorizing the Office of Consumer Credit Regulation To 
Study the Payday Advance Industry and Related Consumer Credit 
Lending Issues in Maine' 
Further amend the bill by striking out everything after the 
title and before the summary and inserting in its place the 
following: 
'Sec. I. Office of Consumer Credit Regulation authorized to study 
payday advance industry and related consumer credit lending issues in 
State. 
Resolved: 
That 
the 
Department 
of 
Professional 
and 
Financial Regulation, Office of Consumer Credit Regulation, in 
consultation with the Office of the Attorney General, the banking 
and lending industry and consumers, shall conduct a study on the 
current market for payday advance services and subprime lending 
practices in the State and related consumer protection laws and 
educational services; and be it further 
Sec. 
2. 
Reporting 
date 
established. 
Resolved: 
That 
the 
Department of Professional and Financial Regulation, Office of 
Consumer 
Credit 
Regulation 
shall 
report 
its 
findings 
under 
section 1, 
including any proposed legislation, 
to the Joint 
Standing Committee on Business, Research and Economic Development 
by February 1, 2006.' 
Page l-LR149l(2) 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT "~,, to H.P. 565, L.D. 788 
SUMMARY 
This amendment changes the bill to a resolve and changes the 
title. 
It directs the Department of Professional and Financial 
Regulation, Office of Consumer Credit Regulation to study the 
payday 
advance 
industry 
and 
related consumer 
credit lending 
issues in the State, 
and directs the office to report its 
findings, 
along with any proposed legislation, to the Joint 
Standing Committee on Business, Research and Economic Development 
by February 1, 2006. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 04/25105 ;tJ;1?ac:.. 
LD788 
LR 1491(02) 
An Act To Establish Consumer Protections and Regulations for Deferred Deposit Loans 
Fiscal Note for Bill as Amended by Committee Amendment "~,, 
Committee: Business, Research and Economic Development 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - General Fund 
Minor cost increase - Other Special Revenue Funds 
Fiscal Detail and Notes 
Additional costs to the Office of Consumer Credit Regulation within the Department of Professional and Financial 
Regulation and by the Department of the Attorney General can be absorbed utilizing existing budgetary resources. 
LR1491(2) - Fiscal Note - Page 1 of 1