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BankersOnline.com Forums State-Specific Compliance Issues Oklahoma OSA 3-508A Finance Charge Limits
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#2290900 - 11/20/23 04:54 PM OSA 3-508A Finance Charge Limits
Wonderofitall Offline
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Wonderofitall
Joined: Sep 2010
Posts: 225
Out West
We do very few consumer non-real estate loans. Our LOS gave us a warning on the usury limit on a loan in process. The definition of supervised lender seems to include regulated banks, but I hope I'm wrong.

If so, are the rates shown in the statute that went into effect 11/01/23 blended rates?

If so, seems like it would be a bear to audit the rate, but maybe I'm missing something.
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#2290917 - 11/21/23 09:14 AM Re: OSA 3-508A Finance Charge Limits Wonderofitall
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,461
Galveston, TX
What are the terms of the loan that you are offering?
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#2290940 - 11/21/23 05:01 PM Re: OSA 3-508A Finance Charge Limits Wonderofitall
Wonderofitall Offline
100 Club
Wonderofitall
Joined: Sep 2010
Posts: 225
Out West
Pilot Error. LP entered incorrect data, and LOS was missing a file update.
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