HB1538 (2024) Detail

Relative to credit card late fees and interest.


HB 1538  - AS INTRODUCED

 

 

2024 SESSION

24-2536

10/05

 

HOUSE BILL 1538

 

AN ACT relative to credit card late fees and interest.

 

SPONSORS: Rep. Baroody, Hills. 39

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill requires that the total of interest and other charges in a consumer credit transaction shall not exceed the consumer's total original balance from the credit card sale or loan.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

24-2536

10/05

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty Four

 

AN ACT relative to credit card late fees and interest.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  Consumer Credit Transactions; Charges.  Amend RSA 358-K:1, XIII to read as follows:

XIII. "Other charges" or "other charge," notwithstanding any other law to the contrary, means any cost or charge, other than interest as defined in paragraph XII, including but not limited to origination fees, loan discount, transaction costs, buydown funds, or other fees, including late fees, or assessments, whether or not expressed as a percentage of the amount of the loan or debt, payable directly or indirectly by the consumer and imposed directly or indirectly by the creditor as an incident to or a condition of the extension of credit.  Provided, however that the total of all "other charges" and outstanding interest shall not exceed the consumer's total original balance from the credit card sale or loan transaction.

2  Effective Date.  This act shall take effect 60 days after its passage.

Links


Date Body Type
Jan. 17, 2024 House Hearing
March 13, 2024 House Exec Session
March 19, 2024 House Floor Vote

Bill Text Revisions

HB1538 Revision: 40101 Date: Dec. 11, 2023, 9:59 a.m.
HB1538 Revision: 44617 Date: Oct. 25, 2023, 9:21 a.m.

Docket


March 28, 2024: Inexpedient to Legislate: MA VV 03/28/2024 HJ 10 P. 16


March 20, 2024: Committee Report: Inexpedient to Legislate 03/19/2024 (Vote 18-0; CC) HC 12 P. 9


March 7, 2024: Executive Session: 03/13/2024 10:00 am LOB 302-304


Feb. 21, 2024: Subcommittee Work Session: 03/06/2024 01:15 pm LOB 302-304


Jan. 9, 2024: Public Hearing: 01/17/2024 01:45 pm LOB 302-304


Dec. 11, 2023: Introduced 01/03/2024 and referred to Commerce and Consumer Affairs HJ 1 P. 24