15 USC 1665d - Reasonable penalty fees on open end consumer credit plans

U.S Code last checked for updates: Nov 22, 2024

§ 1665d.

Reasonable penalty fees on open end consumer credit plans

(a)

In general

(b)

Rulemaking required

(c)

Considerations

In issuing rules required by this section, the Bureau shall consider—

(1)

the cost incurred by the creditor from such omission or violation;

(2)

the deterrence of such omission or violation by the cardholder;

(3)

the conduct of the cardholder; and

(4)

such other factors as the Bureau may deem necessary or appropriate.

(d)

Differentiation permitted

(e)

Safe harbor rule authorized

(Pub. L. 90–321, title I, § 149, as added Pub. L. 111–24, title I, § 102(b)(1), May 22, 2009, 123 Stat. 1740; amended Pub. L. 111–203, title X, § 1100A(2), July 21, 2010, 124 Stat. 2107.)

cite as: 15 USC 1665d