HB335 Alabama 2022 Session

Summary

Primary Sponsor

Chris Blackshear Representative

Republican

Session

Regular Session 2022

Title

Small loans companies, licensees of Banking Dept., additional limited closing fee for loans, Sec. 5-18-15 am'd.

Description

Under existing law, there is no provision for a closing fee payable to banks and financial institutions on small loans of less than one thousand five hundred dollars ($1,500).

This bill would authorize banks and financial institutions to charge a closing fee in a limited amount on small loans, subject to partial refund upon prepayment of the loan.

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Subjects

Small Loans