Louisiana HB952 amends consumer loan regulations, including finance charges, origination fees, and credit education requirements.
Louisiana HB952 modifies consumer loan regulations by setting new maximum finance charges based on loan amounts. It also raises the origination fee cap to $75 and mandates credit education programs for borrowers. In the event of a major disaster declaration by FEMA, lenders must suspend late charges, repossession actions, and lawsuits for 60 days. The bill also increases license and renewal fees for lenders.
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