Loans, Late Fees | JD Supra

Late Fee Crunch: How Earned Wage Access Helps Consumers Avoid Penalties

Payactiv on 4/23/2025

$23 billion. That’s how much Americans paid in late fees last year. When a payment is only a few days behind, late fees for credit cards, utilities, student loans, and rent pile up. And they have proliferated over the last...more

Late Fees on a Balloon Payment Due at Maturity

Baker Donelson on 1/22/2025

In 2025, an estimated $600 billion in commercial real estate loans are scheduled to mature. While the interest rate environment has stabilized somewhat over the past year, rates have not fallen as far as borrowers had hoped,...more

Mark Your Calendars: Key 2024 Compliance Dates for Consumer and Small Business Financial Services Regulations

Husch Blackwell LLP on 1/4/2024

One of the primary challenges with working in U.S. financial services is keeping up with the ever-changing federal and state regulatory landscape. Juggling the day-to-day fire drills while staying atop of regulatory changes...more

OCC Issues “Buy Now, Pay Later” Guidance to Banks

Troutman Pepper Locke on 12/8/2023

This week, the Office of the Comptroller of the Currency (OCC) issued guidance to banks on managing the risks associated with “buy now, pay later” (BNPL) lending. Specifically, the bulletin addresses BNPL loans that are...more

Default Interest Rates on Principal Illegal Under California Law?

Ervin Cohen & Jessup LLP on 3/28/2023

As interest rates rise, borrowers may find themselves in default, facing lenders who overreach by seeking to recover default interest in addition to regular interest on the principal of the loan. Borrowers may have a weapon...more

California Appellate Court Invalidates the Ability to Obtain Default Interest on Loans That Have Not Matured

Procopio, Cory, Hargreaves & Savitch LLP on 2/1/2023

When a late fee is assessed upon the entire principal balance of the loan, is it invalid when the loan is not fully matured? This question, so important to lenders, has been addressed in California after the conclusion of...more