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#448779 - 10/28/05 01:15 PM Payment fee
Peg 6897 Offline
100 Club
Joined: Jan 2005
Posts: 112
Can a fee be charged if a customer has a payment set up on our loan system to have the payment come from an account at another institution?

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General Discussion
#448780 - 10/30/05 05:35 PM Re: Payment fee
flaire Offline
100 Club
flaire
Joined: Sep 2005
Posts: 228
sw us
Depends on whether it was properly disclosed in your loan agreement and according to Reg. Z.

Personally, I wouldn't discourage the customer from making payments by charging a fee.
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#448781 - 10/31/05 02:07 AM Re: Payment fee
Peg 6897 Offline
100 Club
Joined: Jan 2005
Posts: 112
Thanks, I agree, but the bosses are looking for fee income (who isn't) they'd just rather have the auto-deduct from an account at our bank.

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