Rhode Island · 2026 Regular Session · Bill
HB 7850: AN ACT RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- INTEREST AND USURY
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 7850 is a bill introduced in the Rhode Island House on February 27, 2026. According to its official title, it concerns: AN ACT RELATING TO COMMERCIAL LAW -- GENERAL REGULATORY PROVISIONS -- INTEREST AND USURY. Primary sponsor: Arthur Handy (Democratic). Most recent recorded action (March 3, 2026): 03/03/2026 Committee recommended measure be held for further study.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
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.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Arthur Handy | Primary sponsor | Democratic | House | 18 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- 03/03/2026 Committee recommended measure be held for further study
- 02/27/2026 Scheduled for hearing and/or consideration (03/03/2026)
- 02/27/2026 Introduced, referred to House Corporations