Bill > HB2850

This bill modifies the standards relating to financial transactions in Missouri. It repeals and replaces sections of the existing law to allow for certain fees and charges on loans, credit arrangements, and open-end credit contracts, such as a fee of up to $10 on any loan, a prohibition on certain fees for arranging credit of $1,000 or less, and the ability to charge fees in lieu of interest on open-end credit balances not tied to transaction accounts or credit card accounts. The bill also outlines specific allowable fees and charges that can be imposed, such as for late payments, returned checks, and convenience fees for certain payment methods.

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https://house.mo.gov/Bill.aspx?bill=HB2850&year=2024&code=R