OK Issues Annual Change in Dollar Amounts Under Consumer Credit Code
The Oklahoma Department of Consumer Credit recently published its annual changes in dollar amounts for 2018, which became effective July 1. The dollar amounts increased by 10% or more, except for those pertaining to loan finance charges for supervised loans, which are set by statute. The changes affect the following with respect to consumer credit sales and loans:
Consumer credit sales
- Credit service charge
- Delinquency charges
- Security interest
- Attorney’s fees
- Deficiency judgments
Loans/ supervised loans
- Delinquency charges
- Attorney’s fees
- Acquisition charge
- Installment account handling charge
- Maximum loan term
- Interest in land as security
The full list of dollar amounts is available here.
