According to the periodic statement transactions sample G-18(A) there are two blocks in which fees and interest must be segregated.
I want to make sure i understand this correctly.
1. Fees section: Late payment fee, over the limit fee, balance transfer fee, returned payment fee, termination fee,
2. Interest charged - this one has me confused because it references "finance charge" as defined as those in 226.4(b) - so in the interest section of the statement are we required to include all fees defined as a finance charge: interest, loan fees, inspection fee (after closing) service, transaction fee or activity fee. (we currently do not charge any fees on HELOCs but are going to start charging - so, I just want to be sure i understand this fully.)
3. the new fees and interest charged sections: are they rquried to be placed in a specific area on the HELOC statement? It appears at the end of the transactions is fine.
You're help is greatly appreciated....