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.
FEES/RETURNED CHECKS/LOAN PROCESSING.
View NCGA Bill Details | 2019-2020 Session |
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)
H 327
Bill Summaries:
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Bill H 327 (2019-2020)Summary date: Mar 11 2019 - More information
View: All Summaries for Bill
Identical to S 529, filed 4/2/19.