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California, as well as 26 other states have no limitation on interest rates, user fees, late penalties, etc for credit cards. Arkansas is the only state with very strict usury statutes.Federal usury laws are of little help, as the only stipulation is for the credit card companies to inform customers of their rates and fees. There has been a bill "stuck" in legislation to place a 17% cap on interest rates, it is doubtful it will ever become law.
What else can I help you with?
What is the highest interest rate allowed by NY law?
In New York, the legal maximum interest rate is 16% per year for most types of loans. However, for some types of loans, such as payday loans, the maximum interest rate is lower. It's always important to check the specific regulations for the type of loan you are considering in New York.
What is the maximum rate of interest allowed by law in Ohio on condominium assessments that are paid late?
Usually, unpaid assessments are not interest-bearing or interest-earning amounts, because they are debts. Read your governing documents to verify the late fees being charged. If you believe that the late fees you're being charged are excessive, take your case to an attorney and find a legal way to protest the amount. Continual non-payment of assessments means that the late fees are simply added, month after month. It's a good idea to pay your assessments on time, just like you pay your mortgage or credit card bills.
What is the general form of a rate law?
The general form of a rate law is rate = k[A]^m[B]^n, where rate is the reaction rate, k is the rate constant, [A] and [B] are the concentrations of reactants A and B, and m and n are the respective reaction orders for A and B.
Is Statutory law the highest form of law?
In many legal systems, constitutional law is considered to be the highest form of law because it sets the framework for all other laws, including statutory law. Statutory law refers to laws passed by a legislative body, while constitutional law refers to the fundamental principles and rules outlined in the constitution.
The highest or most powerful law in the country is called?
The highest or most powerful law in the country is called the constitution. It serves as the foundation for all other laws and governs the powers and limitations of the government.
What is the highest interest rate allowed by law for consumers in the state of Ohio?
29%
What is the highest interest rate allowed in Florida law?
18% plus 10 points
What is the highest interest rate allowed by law for consumers in the state of Florida?
max 18% if is more than 500.000 25%
What is the highest interest rate for personal loans allowed in California law?
I am trying to find the answer to this question because I am getting charged over 90% interest by cash call, and I don't think this is at all legal!!!
What is the highest interest rate allowed by credit card companies to charge consumers?
It is regulated by state law, so it depends on where your credit agreement is in effect. Where I am it's 33% annually.
What is the highest interest rate allowed by FLORIDA law?
It is determined by comptroller of state by averaging the discount rate of the Federal Reserve Bank of New York for the preceding year and adding 500 basis points to the averaged federal discount rate.
What is the highest interest rate allowable on a private personal loan in Louisiana?
The law says 14%
What is the highest interest rate allowed by NY law?
In New York, the legal maximum interest rate is 16% per year for most types of loans. However, for some types of loans, such as payday loans, the maximum interest rate is lower. It's always important to check the specific regulations for the type of loan you are considering in New York.
What is the highest legal auto loan interest rate in Wisconsin?
The usury rate is 5% in Wisconsin but, unfortunately auto loans are exempt from the law Wis. Statutes 138.06
What is the highest car loan interest rate in Oregon?
I am no law expert but i believe it is 12%. Do not be fooled, delinquent loans through the rules out the window,
A law that establishes a maximum interest rate for credit transactions of 24 percent is it substantive or procedural law?
a law that establishes a maximum interest rate for credit transactions of 24 percent
What is the maximum interest rate on a promissory note allowed by federal law?
Under federal law, there is no specific maximum interest rate for promissory notes; instead, the allowable interest rate is often determined by state law. However, federal regulations, such as the Military Lending Act, set limits on interest rates for loans to military members and their dependents, capping them at 36% APR. Generally, lenders must comply with both federal and state regulations regarding interest rates. Always check the specific state laws for more precise information.
