Consumer Finance Loans - Licensing Requirements and State Law Applicability
Summary
Oregon enacted HB4116, a consumer finance bill effective June 5, 2026, opting out of Section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 for consumer finance loans made in the state. The bill specifies licensing application requirements and clarifies which consumer finance laws apply to lenders operating in Oregon. The bill passed the House 31-24 and Senate 16-13 before being signed by the Governor.
What changed
Oregon HB4116 (Chapter 113, 2026 Laws) establishes state-level consumer finance loan regulations, specifically declaring that amendments under Section 521 of the federal Depository Institutions Deregulation and Monetary Control Act of 1980 shall not apply to consumer finance loans made in Oregon. The bill specifies licensing application requirements and clarifies the scope of Oregon's consumer finance laws regarding who they apply to and under what circumstances.
Consumer finance lenders and loan originators operating in Oregon should prepare for compliance with state-defined requirements rather than the opted-out federal amendments. Lenders whose operations involve federal programs or cross-state considerations may need to navigate dual compliance frameworks. The bill passed with narrow margins, indicating significant legislative debate about the scope of state versus federal authority over consumer finance.
What to do next
- Consumer finance lenders and loan originators in Oregon should review HB4116 to understand updated licensing requirements
- Lenders should assess how state-defined consumer finance law differs from federal amendments the state opted out of
- Monitor for Oregon Bureau of Consumer and Business Services guidance on implementation
Archived snapshot
Apr 14, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
ChangeBridge / Oregon / HB4116 Effective Date HB4116 House Bill Effective Date 2026-04-13
Relating to consumer finance loans; and prescribing an effective date.
Declares that this state does not want a certain federal law to apply to consumer finance loans made in this state. Says who the laws that govern consumer finance loans in this state apply to and when. Says what needs to be in an application for a license to make consumer finance loans in this state. (Flesch Readability Score: 73.0). Declares that this state does not want the amendments set forth in section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 to apply to consumer finance loans made in this state. Specifies persons to whom the consumer finance laws of this state apply and circumstances in which the laws apply. Specifies the requirements for an application for a license to make consumer finance loans in this state. Takes effect on the 91st day following adjournment sine die.
Bill Details
State Oregon
Session 2026 Legislative Measures
Chamber House
Official Source olis.oregonlegislature.gov/liz/2026R1/Meas...
LegiScan View on LegiScan
Sponsors
Nathan Sosa (Rep - D) Courtney Neron Misslin (Rep - D) Ben Bowman (Rep - D) Tom Andersen (Rep - D) Lamar Wise (Rep - D) Wlnsvey Campos (Rep - D) Jeffrey Golden (Sen - D) Deb Patterson (Sen - D) Floyd Prozanski (Sen - D) Farrah Chaichi (Rep - D) Mark Gamba (Rep - D) David Gomberg (Rep - D) Ken Helm (Rep - D) Zach Hudson (Rep - D) Susan McLain (Rep - D) Lesly Munoz (Rep - D) Nancy Nathanson (Rep - D) Travis Nelson (Rep - D) Thuy Tran (Rep - D) Jules Walters (Rep - D) Lew Frederick (Rep - D) Kayse Jama (Sen - D) Khanh Pham (Sen - D) Janeen Sollman (Rep - D)
Action History
2026-04-13 H Chapter 113, (2026 Laws): Effective date June 5, 2026. 2026-04-07 H Governor signed. 2026-03-06 S President signed. 2026-03-06 H Speaker signed. 2026-03-05 S McLane, granted unanimous consent to change vote to nay. 2026-03-05 S Third reading. Carried by Neron Misslin, Campos. Passed. Ayes, 16; Nays, 13--Anderson, Drazan, Girod, Hayden, Lieber, Linthicum, McLane, Nash, Robinson, Smith DB, Starr, Thatcher, Weber; Excused, 1--Meek. 2026-03-05 S Motion to refer to Committee on Rules failed. Ayes, 12; Nays, 17--Broadman, Campos, Frederick, Gelser Blouin, Golden, Gorsek, Jama, Lieber, Manning Jr, Neron Misslin, Patterson, Pham, Prozanski, Reynolds, Sollman, Taylor, President Wagner; Excused, 1--Meek. 2026-03-05 S Motion to substitute Minority Report for Committee Report failed. Ayes, 12; Nays, 18--Broadman, Campos, Frederick, Gelser Blouin, Golden, Gorsek, Jama, Lieber, Manning Jr, Meek, Neron Misslin, Patterson, Pham, Prozanski, Reynolds, Sollman, Taylor, President Wagner. 2026-03-04 S Second reading. 2026-03-03 S Minority Recommendation: Do pass with amendments. (Printed A-Eng. Minority) 2026-03-03 S Recommendation: Do pass. 2026-02-25 S Public Hearing and Work Session held. 2026-02-23 S Public Hearing held. 2026-02-19 S Referred to Labor and Business. 2026-02-19 S First reading. Referred to President's desk. 2026-02-17 H Vote explanation(s) filed by Levy E, Nguyen D. 2026-02-17 H Third reading. Carried by Sosa. Passed. Ayes, 31; Nays, 24--Boice, Boshart Davis, Breese-Iverson, Bunch, Cate, Diehl, Edwards, Elmer, Levy E, Lively, Mannix, McIntire, Nguyen D, Osborne, Owens, Pham H, Reschke, Rieke Smith, Scharf, Skarlatos, Smith G, Wallan, Wright, Yunker; Excused, 2--Lewis, Valderrama; Excused for Business of the House, 3--Harbick, Helfrich, Levy B. 2026-02-17 H Motion to substitute Minority Report for Committee Report failed. Ayes, 25; Nays, 33--Andersen, Bowman, Chaichi, Chotzen, Dobson, Fragala, Gamba, Gomberg, Grayber, Helm, Hudson, Isadore, Javadi, Kropf, Lively, Marsh, McDonald, McLain, Munoz, Nathanson, Nelson, Nguyen D, Nosse, Pham H, Rieke Smith, Ruiz, Sanchez, Sosa, Tran, Walters, Watanabe, Wise, Speaker Fahey; Excused, 2--Lewis, Valderrama. 2026-02-16 H Second reading. 2026-02-13 H Minority Recommendation: Do pass with amendments and be printed A-Engrossed. 2026-02-13 H Recommendation: Do pass. 2026-02-10 H Work Session held. 2026-02-03 H Public Hearing held. 2026-02-02 H Referred to Commerce and Consumer Protection. 2026-02-02 H First reading. Referred to Speaker's desk.
Votes
2026-02-10 House Committee Do Pass Yea: 6 Nay: 4 2026-02-17 House Motion to substitute Minority Report Yea: 25 Nay: 33 2026-02-17 House Third Reading Yea: 31 Nay: 24 2026-02-25 Senate Committee Do pass Yea: 3 Nay: 2 2026-03-05 Senate Motion to substitute Minority Report Yea: 12 Nay: 18 2026-03-05 Senate Motion to Refer Yea: 12 Nay: 17 2026-03-05 Senate Third Reading Yea: 17 Nay: 12
Committee Referrals
2026-02-02 H Commerce and Consumer Protection 2026-02-19 S Labor and Business
Amendments
2026-02-05 House Committee On Commerce and Consumer Protection Amendment #-1 2026-02-10 House Committee On Commerce and Consumer Protection Amendment #-1 2026-02-10 House Committee On Commerce and Consumer Protection Amendment #-MR2 2026-02-25 Senate Committee On Labor and Business Amendment #-3 2026-02-25 Senate Committee On Labor and Business Amendment #-MR4
Bill Text Versions
0000-00-00 Introduced 0000-00-00 Introduced 0000-00-00 Engrossed 0000-00-00 Introduced 0000-00-00 Engrossed 0000-00-00 Enrolled Legislative data powered by LegiScan (CC BY 4.0)
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