W. Va. Code R. § 106-11-4

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 106-11-4 - Over-the-Limit Fees

4.1. Revolving Credit. -- A lender may assess, as a permissible additional charge in connection with a revolving line of credit, a charge to the consumer for exceeding his or her credit limit. The charge may not, in any billing period, exceed two percent (2%) of the consumer's established credit limit or ten dollars ($10), whichever is less. This charge is also subject to the monthly periodic finance charge if not paid upon initial billing.