Are there any requirements addressing the timing of when the bank must send late payment notices to borrowers or what information must be included on those notices? I've never heard of any, but thought it could be something covered in state law.

Haven't heard of any such requirements in any state. However, I think there are a few states that require notification when a delinquency charge is assessed, and those states may mandate a time frame between when the notice is sent and when the charge is assessed.

I hadn't either, but I want to make sure there isn't a requirement that I didn't know about just because it never came up before. Thanks for the feedback.