Massachusetts Division of Banks Sets Cap on Came back Check Charges Allowable for Condition-Chartered Banks

Massachusetts Division of Banks Sets Cap on Came back Check Charges Allowable for Condition-Chartered Banks
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Massachusetts Division of Banks Sets Cap on Came back Check Charges Allowable for Condition-Chartered Banks

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The Massachusetts Division of Banks established the utmost fee that condition-chartered banks and lending institutions are allowed to evaluate consumer accounts regarding the processing a dishonored check. The utmost fee, that was determined based on overview of cost data the DOB acquired throughout regular examinations, is placed at $5.71. This fee cap is identical maximum as had formerly experienced place. This maximum fee will stay essentially until April 30, 2015, or until such time because the DOB issues its 2015 fee decision.

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