Title Loan Lending Veto Overridden in House, SB 57 Becomes Law

CONCORD – House Speaker William O’Brien today offered the following statement on the override of Senate Bill 57 relative to regulation of title loan lenders. With the passage of SB 57 the legislation becomes law immediately. SB 57 was overridden by a 248 to 123 vote.

House Speaker William O’Brien

“This is an opportunity to help out New Hampshire’s small businesses get through challenging economic times and stay in business. The contractor waiting to get paid for past jobs can take out a take out a loan for the new plow truck he needs to buy for the winter season. A resident moving from one apartment to another could use a title loan to pay the security deposit on a new apartment while they wait for the security deposit on their old apartment security deposit to be returned. Most importantly, this law opens back up a whole sector of employment that New Hampshire had lost. We will continue to work toward supporting the economic climate for jobs in New Hampshire, as we have done today in overriding the Governor’s veto of Senate Bill 57.”