l9n/ Connecticut

2025 Regular Session

Senate Bill 1257

AN ACT CONCERNING CONSUMER CREDIT AND COMMERCIAL FINANCING.

Became law as Public Act 25-115, signed July 1, 2025, 145 days after it was filed.

What it does

The synopsis the General Assembly published with the bill.

To: (1) Require cancellations of certain surety bonds to be submitted electronically; (2) modify procedures regarding changes to the legal names of certain licensees; (3) redefine "sales finance company"; (4) establish procedures for registering as an exempt mortgage servicer registrant; (5) establish requirements regarding private student education loan cosigner releases; (6) establish enforcement authority regarding registrants; (7) prohibit receiving fees in connection with small loans without a license; (8) redefine "mortgage servicer" and "servicing"; (9) define "private education lender" and "private education loan creditor"; (10) establish requirements regarding timelines and fees for certain registrants that are exempt from licensing; (11) modify various statutes relating to commercial financing; (12) modify registration and enforcement procedures regarding private education lenders and private education loan creditors; (13) require certain disclosures in connection with shared appreciation agreements; (14) make technical changes to various statutes regarding consumer credit; and (15) redefine "system".

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

1 co-sponsor

Patricia Billie Miller

In the House of Representatives

    1 co-sponsor

    Fred Gee Jr.

    Its course

    February 6 to July 1, 2025, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

    Each committee stop sits inside its chamber.

    Every action27 actions on 14 days

    In the SenateFeb 6 to May 20103 days

    Banking CommitteeFeb 6 to Mar 628 days

    Judiciary CommitteeMay 8 to May 124 days

    In the House of RepresentativesMay 20 to Jun 314 days

    Waiting to be sentJun 3 to Jun 2522 days

    With the GovernorJun 25 to Jul 16 days

    Votes

    Yeas to nays, as the General Assembly recorded them. Committee votes are set in.

    Amendments

    Each amendment offered, and what became of it.

    • Senate floor amendmentAdopted

      Adopted May 20 · Adopted Jun 3

    Text

    Each version as the General Assembly printed it.

    l9n doesn't hold this bill's text yet.

    What happened

    In l9n's words, one line for each step. Every action as the General Assembly published it is below.

    In the Senate Feb 6 – May 20

    1. Feb 6Introduced and sent to Banking Committee
    2. Feb 7Heard in Banking Committee
    3. Mar 6Banking Committee recommended it
    4. May 8Sent to Judiciary Committee
    5. May 12Judiciary Committee recommended it
    6. May 20The Senate adopted Senate Amendment A
    7. Passed the Senate with Senate Amendment A

    In the House of Representatives May 22 – Jun 3

    1. May 22Arrived in the House of Representatives
    2. Jun 3The House of Representatives adopted Senate Amendment A
    3. Passed the House of Representatives with Senate Amendment A

    To the Governor Jun 16 – Jul 1

    1. Jun 16Numbered Public Act 25-115
    2. Jun 25Sent to the Secretary of the State
    3. Sent to the Governor
    4. Jul 1Signed by the Governor
    All 27 actions, as published
    1. Feb 6REF. TO JOINT COMM. ONBoth houses
    2. Feb 7PUBLIC HEARINGBoth houses
    3. Mar 6Joint FavorableBoth houses
    4. Mar 6FILED WITH LCOBoth houses
    5. Mar 17REFERRED TO OLR, OFABoth houses
    6. Mar 24RPTD. OUT OF LCOBoth houses
    7. Mar 24FAV. RPT., TAB. FOR CAL., SEN.Senate
    8. Mar 24SENATE CALENDAR NUMBERSenate
    9. Mar 24FILE NO.Both houses
    10. May 8REF. BY SEN. TO COMM. ONSenate
    11. May 8IMMEDIATE TRANSMITTAL TO COMMITTEESenate
    12. May 12Joint FavorableBoth houses
    13. May 13FILED WITH LCOBoth houses
    14. May 13RPTD. OUT OF LCOBoth houses
    15. May 13NO NEW FILE BY COMM. ONBoth houses
    16. May 13FAV. RPT., TAB. FOR CAL., SEN.Senate
    17. May 20SEN. ADOPTED SEN. AMEND. SCH.Senate
    18. May 20SEN. PASSED, SEN. AMEND. SCH.Senate
    19. May 22FAV. RPT., TABLED FOR HOUSE CALENDARHouse of Representatives
    20. May 22HOUSE CALENDAR NUMBERHouse of Representatives
    21. Jun 3HOUSE ADOPTED SEN. AMEND. SCH.House of Representatives
    22. Jun 3HOUSE PASSED, SEN. AMEND. SCH.House of Representatives
    23. Jun 3IN CONCURRENCEHouse of Representatives
    24. Jun 16PUBLIC ACTBoth houses
    25. Jun 25TRANSMITTED TO SECRETARY OF THE STATEBoth houses
    26. Jun 25TRANSMITTED BY SECRETARY OF THE STATE TO GOVERNORGovernor
    27. Jul 1SIGNED BY GOVERNORGovernor