5 Del. Admin. Code § 2203-3.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 2203-3.0 - Charges for Revolving Credit

A licensee may collect the following charges for revolving credit as allowed by of 5 Del.C. Ch. 22, Subch. II:

3.1 interest, including interest at variable rates;

3.2 a periodic charge for privileges made available to the borrower;

3.3 transaction charges;

3.4 a minimum charge for each scheduled billing period during which there was an outstanding unpaid balance;

3.5 fees for services rendered in good faith by the licensee or its agents in connection with the loan;

3.6 reimbursement for expenses incurred in good faith by the licensee or its agents in connection with the loan;

3.7 late or delinquency charges;

3.8 attorney fees incurred by the licensee as a result of a default by the borrower;

3.9 court, alternative dispute resolution, or other collection costs (including collection agency fees) incurred by the licensee as a result of a default by the borrower; and

3.10 returned check charges and charges for the denial of electronic account debits limited to the amount specified in the licensee's agreement with its customers. A customer may be assessed only one such charge per item.

5 Del. Admin. Code § 2203-3.0

17 DE Reg. 994 (4/1/2014) (Final)