5 Del. Admin. Code § 2203-4.0

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

Section 2203-4.0 - Charges for Closed End Credit

A licensee may collect the following charges for closed end credit as allowed by 5 Del.C. Ch. 22, Subch. III:

4.1 interest, including interest at variable rates;

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

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

4.4 late or delinquency charges;

4.5 charges for deferred installment payments;

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

4.7 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;

4.8 deferral charges; and

4.9 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 § 2203-4.0

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