Synopsis As Introduced Amends the Payday Loan Reform Act. In the elements of the definition of "payday loan", deletes the element that it have a term that does not exceed 120 days. Deletes a provision that a specified charge is considered fully earned as of the date on which the loan is made. Provides that when a consumer repays a payday loan in full before its due date, the lender shall rebate the unearned finance charges to the consumer on a straight-line amortization basis as of the date of repayment. Prohibits a licensee or a person making payday loans from evading the requirements and prohibitions of the Act by use of a device or subterfuge including, but not limited to, disguising a payday loan as a different type of transaction or characterizing a required fee as a purchase of a good or service in connection with a payday loan, and authorizes the Department of Financial and Professional Regulation to develop rules to determine if a person or entity seeks to evade the applicability of the Act by any device, subterfuge, or pretense. Effective immediately.