S3074 — Allows a lender to charge an origination fee, increase interest rates and collect a monthly service fee, on loans up to three hundred dollars ($300) but not exceeding five thousand dollars ($5,000).

S3074 — Allows a lender to charge an origination fee, increase interest rates and collect a monthly service fee, on loans up to three hundred dollars ($300) but not exceeding five thousand dollars ($5,000). · Informed CitizenryS3074 changes the rules for small loan lenders by clarifying what fees they can charge. Currently, these types of lenders may face confusion or legal challenges regarding the various fees and rate…Open in Informed Citizenry