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#31268 - 09/05/02 06:27 PM LA - rates and fees allowable
Andy_Z Offline
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Joined: Oct 2000
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Does anyone have a good site where I could see at a glance (or dig into if necessary) what rates and fees national banks may charge in the Sportsman's Paradise state of Louisiana?
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Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#31269 - 09/11/02 02:01 PM Re: LA - rates and fees allowable

Andy, of course your question does not have a simple answer. The basic consumer rules are contained in the Lousiana Consumer Credit Law (LA R.S. 9:3510 et seq). If you have an auto loan, look to the Louisiana Motor Vehicle Finance Act (LA R.S. 6:969.1 et seq, Max Charges 9:969.9 et seq); for Residential Mortgage Loans (a defined term) go to the Louisiana Residential Mortgage Lending Act LA R.S. 6:1081 et seq, specifically, LA R.S. 6:1095 et seq. You need to be careful to include a choice of law provision in your promissory note as some of these statutes overlap in applicablility and the permitted charges are not identical. I hope I haven't missed any significant ones, as these are the major consumer statutes I deal with for a National Bank. Commercial loans are basically unregulated except for unconscionability and default interest rates.

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