SB 1367: RELATING TO INSTALLMENT LOANS.

Clarifies the intended scope of chapter 480J, HRS, which is the regulation of installment lenders, and that the law does not intend to eliminate the ability of lenders to make low-interest rate loans under existing interest and usury laws.  Replaces the term "consumer loan" with the defined term "installment loan" for consistency throughout the statutes.  Requires loan maintenance fees to be prorated daily to prevent consumers from incurring fees once the loan is paid off.  Allows lenders to charge a convenience fee of up to five dollars for debit card payments, providing consumer more options for repayment.  Streamlines the loan repayment process by requiring paper receipts only for in-person or cash payments and increases consumer privacy by removing consumer names from receipts.  Repeals the requirement for lenders to wait three days after a consumer fully repays a loan before issuing a new installment loan.