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#1083460 - 11/18/08 05:55 PM Loan Processing Fee in South Carolina
beckykelly Offline
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Joined: Aug 2006
Posts: 2
If we charge a $50.00 fee on consumer loans in South Carolina, how do we title it and disclose it to prevent having to rebate it upon prepayment?

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Lending Compliance
#1083467 - 11/18/08 05:59 PM Re: Loan Processing Fee in South Carolina beckykelly
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
This is a matter of state law and you should post this in the SC state specific forum.

However, regardless how you title the fee it will still be a processing fee and subject to the SC rebate requirements.
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