A4590 — Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill or twenty dollars

A4590 — Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill or twenty dollars · Informed CitizenryThis bill amends the general business law to limit the charges a credit card company can assess for late payments. The charges are capped at whichever amount is less: five percent of the unpaid bal…Open in Informed Citizenry