A1496 — Provides that any charges assessed by a credit card company for late payment shall not exceed 1.5 percent of the unpaid balance of any bill or fifteen dollars

A1496 — Provides that any charges assessed by a credit card company for late payment shall not exceed 1.5 percent of the unpaid balance of any bill or fifteen dollars · Informed CitizenryThis bill amends the general business law to limit the charges a credit card company can assess for a late payment. The charges are restricted to whichever amount is less: 1.5 percent of the unpaid…Open in Informed Citizenry