H7724 — Establishes a maximum per annum rate of interest on small loans at ninety-nine percent (99%) and limit the amounts of origination and closing fees. Also requires that late fees and returned payment fees be agreed to in writing between borrower and lender.

H7724 — Establishes a maximum per annum rate of interest on small loans at ninety-nine percent (99%) and limit the amounts of origination and closing fees. Also requires that late fees and returned payment fees be agreed to in writing between borrower and lender. · Informed CitizenryThis bill aims to protect consumers by setting clear limits on the costs associated with small loans. Specifically, it establishes a maximum annual interest rate for these types of loans at 99%. Fu…Open in Informed Citizenry