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Pepper Hamilton, LLP Financial Services Alert

Delaware Imposes New Restrictions on Short-Term Lending

On June 27, Delaware Gov. Jack Markell signed into law House Bill 289, legislation that places a number of severe limitations on short-term loans made by a Delaware licensed lender. These limitations will apply to both brick-and-mortar lenders, as well as Internet lenders operating under the Delaware Licensed Lender Act. The new limitations become effective on January 1, 2013.

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Questions? Contact:
Richard P. Eckman | eckmanr@pepperlaw.com
Andrew R. Mavraganis | mavraganisa@pepperlaw.com
Darcy Lee | leeda@pepperlaw.com*
*Darcy Lee is a senior paralegal in Pepper’s Wilmington office. Ms. Lee is not admitted to practice law.