HB4038 - Tennessee: Loan Companies

Loan Companies - Requires commissioner of financial institutions to annually, instead of biennially, submit report to governor and general assembly; requires licensee who provides deferred presentment services to notify department seven days instead of five days before change in location or name. - Amends TCA Title 45, Chapter 15 and Title 45, Chapter 17.

Increase State Expenditures - $1,500/One-Time/Dept. of Financial Institutions $59,400/Recurring/Dept. of Financial Institutions Other Fiscal Impact - The expenditures required to implement the provisions of this bill will be paid from current service revenue from the Department of Financial Institutions. Such an increase in expenditures will result in a proportional reduction in the Departments reversion to the General Fund.