California Financial Code

§ 4001

FIN § 4001 Effective Jan 1, 1995Div. 1.3

Statute text

(a)A supervised financial organization or charge card issuer may not charge more than any of the following amounts:

(1)If set forth in the consumer credit or charge card agreement, one of the following fees:

(A)Seven dollars ($7) with respect to any monthly billing cycle as a late payment charge on the minimum payment due that is not paid within five days after the date the payment is due.

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Legislative history

Added by Stats. 1994, Ch. 1079, Sec. 1. Effective January 1, 1995.