This bill increases regulatory oversight on loans under $25,000, including payday loans, by imposing stricter requirements on financial institutions and lenders. It also expands licensing regulations through the Nationwide Multistate Licensing System and Registry. CPAC opposed this bill because it burdens small lenders with excessive regulation, stifles free-market solutions, and limits financial options for hardworking Americans. The Senate passed this bill on 2025-04-15 by a vote of 14-6. The Governor vetoed this bill.