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In Response To:
Thread Starter: Richard Insley
Title: Re: Charging interest on interest

Questions dealing with legal limits on fees, interest rates, and accrual methods should be directed to the bank's legal counsel. The answers will come from counsel's understanding of each state's statutory and case laws. If you have a roll-out plan for multiple states, you should provide counsel with a list of those states and ask for a comprehensive response regarding the state laws in all of your planned market area.