FEES/RETURNED CHECKS/LOAN PROCESSING.

View NCGA Bill Details2019-2020 Session
House Bill 327 (Public) Filed Monday, March 11, 2019
AN ACT TO INCREASE THE MAXIMUM PROCESSING FEE FOR RETURNED CHECKS AND THE MAXIMUM LOAN PROCESSING FEE FOR LICENSEES UNDER THE CONSUMER FINANCE ACT.
Intro. by Szoka, Jones, Goodman, Wray.

Status: Re-ref Com On Rules, Calendar, and Operations of the House (House action) (Apr 29 2019)

SOG comments (1):

Identical bill

Identical to S 529, filed 4/2/19.

H 327

Bill Summaries:

  • Summary date: Mar 11 2019 - More information

    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.


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