Mississippi legislation · 2026 Regular Session
Mississippi HB761: Pawnbrokers, title pledge lenders and check cashers; reduce maximum rate of interest that may be charged for services.
Status: Failed, February 3, 2026
AN ACT TO AMEND SECTIONS 75-67-313 AND 75-67-413, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE MAXIMUM AMOUNT THAT PAWNBROKERS AND TITLE PLEDGE LENDERS MAY CHARGE FOR THEIR SERVICES SHALL NOT EXCEED AN ANNUAL PERCENTAGE RATE OF 25% PER ANNUM ON THE AMOUNT OF THE PRINCIPAL AMOUNT ADVANCED IN THE TRANSACTION THAT REMAINS UNPAID; TO AMEND SECTION 75-67-519, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE MAXIMUM AMOUNT THAT CHECK CASHERS MAY CHARGE FOR CASHING A DELAYED DEPOSIT CHECK SHALL NOT EXCEED AN ANNUAL PERCENTAGE RATE OF 25% ON THE FACE AMOUNT OF THE CHECK; AND FOR RELATED PURPOSES.
What the bill says
An act to amend sections 75-67-313 and 75-67-413, mississippi code of 1972, to provide that the maximum amount that pawnbrokers and title pledge lenders may charge for their services shall not exceed an annual percentage rate of 25% per annum on the amount of the principal amount advanced in the transaction that remains unpaid; to amend section 75-67-519, mississippi code of 1972, to provide that the maximum amount that check cashers may charge for cashing a delayed deposit check shall not exceed an annual percentage rate of 25% on the face amount of the check; and for related purposes.
From the introduced text:
AN ACT TO AMEND SECTIONS 75-67-313 AND 75-67-413, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE MAXIMUM AMOUNT THAT PAWNBROKERS AND TITLE PLEDGE LENDERS MAY CHARGE FOR THEIR SERVICES SHALL NOT EXCEED AN ANNUAL PERCENTAGE RATE OF 25% PER ANNUM ON THE AMOUNT OF THE PRINCIPAL AMOUNT ADVANCED IN THE TRANSACTION THAT REMAINS UNPAID; TO AMEND SECTION 75-67-519, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE MAXIMUM AMOUNT THAT CHECK CASHERS MAY CHARGE FOR CASHING A DELAYED DEPOSIT CHECK SHALL NOT EXCEED AN ANNUAL PERCENTAGE RATE OF 25% ON THE FACE AMOUNT OF THE CHECK; AND FOR RELATED PURPOSES. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: SECTION 1. Section 75-67-313, Mississippi Code of 1972, is amended as follows: 75-67-313. (1) (a) A pawnbroker may contract for and receive a pawnshop charge * * * for all services, expenses, cost and losses of every nature not to exceed an annual percentage rate of twenty-five percent (25%) per annum on the amount of the principal amount * * * advanced in the pawn transaction that remains unpaid. (b) The provisions of paragraph (a) of this subsection shall not include the fee charged by a third-party processing company for the use of a debit or credit card. Pawnbrokers shall *HR43/R867* H. B. No. 761 ~ OFFICIAL ~ G1/2 26/HR43/R867 …