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Read. Follow. Verify.Rhode Island Bill Allows Small Loan Lenders to Charge Origination Fees and Increase Interest Rates on Loans Up to $5,000
Last action · April 28, 2026: Committee recommended measure be held for further studySponsors: Bob Britto and 1 other
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What This Bill Proposed
Small loan lenders in Rhode Island are permitted to charge an , increase interest rates, and collect a on loans ranging from $300 to $5,000.
Borrowers taking out loans between $300 and $5,000 face increased borrowing costs through newly authorized lender fees and higher interest rates.
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
Small loan lenders
Lenders are newly permitted to charge origination fees, increase interest rates, and collect monthly service fees on specified loan amounts.
Borrowers
Borrowers taking out loans between $300 and $5,000 are subject to new origination fees, monthly service fees, and higher interest rates.
Key Facts
- Applies to loans starting at three hundred dollars ($300) up to five thousand dollars ($5,000).
- Permits lenders to charge an origination fee.
- Allows lenders to increase interest rates on eligible loans.
- Authorizes lenders to collect a monthly service fee.
Frequently Asked Questions
What loan amounts are covered under this measure?
What new charges are lenders allowed to collect?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in Senate committee.
Procedural history
5 actions- Apr 28, 2026Committee recommended measure be held for further study
- Apr 24, 2026Scheduled for hearing and/or consideration (04/28/2026)
- Apr 10, 2026Meeting postponed (04/14/2026)
- Apr 10, 2026Scheduled for hearing and/or consideration
- Mar 13, 2026IntroducedIntroduced, referred to Senate Commerce
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Connected Entities
Sources
status.rilegislature.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 50)
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz25Current news / social attention level
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