FEES/RETURNED CHECKS (NEW)

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View NCGA Bill Details(link is external)2019-2020 Session
Senate Bill 529 (Public) Filed Tuesday, April 2, 2019
AN ACT TO INCREASE THE MAXIMUM PROCESSING FEE FOR RETURNED CHECKS.
Intro. by Gunn, D. Davis.
Status: Ch. SL 2019-77 (Jul 5 2019)

SOG comments (1):

Long title change

Submitted by ddecamillis@sog... on

Senate committee substitute to the 1st edition changed the long title.  Original title was AN ACT TO INCREASE THE MAXIMUM PROCESSING FEE FOR RETURNED CHECKS AND THE MAXIMUM LOAN PROCESSING FEE FOR LICENSEES UNDER THE CONSUMER FINANCE ACT.

Bill History:

S 529/S.L. 2019-77

Bill Summaries:

  • Bill S 529 (2019-2020)
    Summary date: Jul 8 2019 - View Summary

    AN ACT TO INCREASE THE MAXIMUM PROCESSING FEE FOR RETURNED CHECKS. SL 2019-77. Enacted July 5, 2019. Effective October 1, 2019.

    Banking and Finance
    GS 25
  • Bill S 529 (2019-2020)
    Summary date: May 2 2019 - View Summary

    Senate committee substitute to the 1st edition makes the following changes.

    Deletes the proposed changes to GS 53-176, which increased the maximum loan processing fee a licensee under the North Carolina Consumer Finance Act can assess.

    Makes conforming changes to the act and the act's titles.

    Banking and Finance
    GS 25
  • Bill S 529 (2019-2020)
    Summary date: Apr 2 2019 - View Summary

    Identical to H 327, filed 3/11/19.

    Amends GS 25-3-506, increasing the maximum processing fee for returned checks accepted in payment for goods or services from $25 to $35. Makes language gender-neutral and makes further technical and clarifying changes. Applies to checks dated on or after October 1, 2019.

    Amends GS 53-176, increasing the maximum loan processing fee a licensee under the North Carolina Consumer Finance Act can assess, from $25 for loans up to $2,500 and 1% of the cash advance for loans above $2,500, not exceeding a total fee of $40, to $50 for loans up to $5,000 and 1% of the cash advance for loans above $5,000, with no maximum total fee amount specified. Applies to contracts entered into, renewed, or modified on or after October 1, 2019.

    Banking and Finance
    GS 25, GS 53
View: All Summaries for Bill