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#2166170 - 02/28/18 05:31 PM maximum consumer car loan fees
ComplianceKat Offline
Junior Member
Joined: Sep 2017
Posts: 32
Hello -

Hoping someone can help clarify whether Florida banks/lenders are still subject to the following requirement from Florida Statute 658.49 during 2017 and 2018? When I search for the statute under 2017 via Online Sunshine or FL Senate sites, I am unable to locate and we are charging fees over $50, but less than 2 percent of consumer loan amount for $50k:

An amount not to exceed the lesser of $50 or 2 percent of the principal amount of the loan, to reimburse the bank for its costs, other than costs actually paid to third parties, for investigating the character and credit of the person applying for the loan, the security submitted, and the costs of booking the transaction.

Thank you!
Last edited by ComplianceKat; 02/28/18 05:39 PM.
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#2166820 - 03/06/18 02:17 PM Re: maximum consumer car loan fees ComplianceKat
Skyline Offline
Platinum Poster
Skyline
Joined: Sep 2005
Posts: 589
It appears that the Florida Statute dropped 658.49 in 2014.
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