§3578.4. Finance charge and fees
A.(1) In conjunction with a deferred presentment transaction or small loan, a licensee
may charge a fee not to exceed sixteen and seventy-five one hundredths percent of the face
amount of the check issued or in the case of a small loan, the equivalent rate of interest,
provided however that such fee or interest does not exceed forty-five dollars, regardless of
the name or type of charge.
(2) If the loan remains unpaid at contractual maturity, the licensee may charge an
amount equal to the rate of thirty-six percent per annum for a period not to exceed one year
and beginning one year after contractual maturity, the rate shall not exceed eighteen percent
per annum.
B. A licensee may contract with the borrower for reimbursement of the actual fee
assessed to the licensee by the licensee's depository institution as a result of a borrower's
check being returned for any reason. The fee shall be reimbursed to the licensee only once
per check, regardless of the number of times the check was returned by the depository
institution.
C. Except for reasonable attorney fees and costs awarded by a court, and fees
allowed under R.S. 9:3529 and 3530(C), no other fees or charges may be assessed or
collected on a deferred presentment transaction or small loan, including any other fees as
may be provided for under Chapter 2 of this Code Title or any other law.
Acts 1999, No. 1315, §§1, 2, eff. Jan. 1, 2000; Acts 2003, No. 1283, §1; Acts 2010,
No. 668, §1; Acts 2014, No. 636, §1, eff. Jan. 1, 2015.