HB34 Alabama 2010 Session

Summary

Primary Sponsor

Craig Ford

Independent

Session

Regular Session 2010

Title

Mini-Code, consumer credit transactions, late charge increased under certain conditions, Sec. 5-19-4 am'd.

Description

Under existing provisions of the Alabama Consumer Credit Act, there are limits to the amount of late charges that lenders may impose on the amount of the scheduled payment in default 10 days or more.

This bill would provide for an increase in the maximum late charge that certain lenders may charge if the late charge is stipulated in the contract.

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Subjects

Banks and Banking