FL S0282

Increases maximum interest rates on first portion of consumer finance loans from 30% per annum on first $2,000 to 30% per annum on first $3,000 of principal.

Increases second tier interest rate threshold from $2,000-$3,000 to $3,000-$4,000 at 24% per annum, and raises third tier threshold from $3,000-$25,000 to $4,000-$25,000 at 18% per annum.

Increases maximum delinquency charge from $10 to $15 for each loan payment in default for at least 10 days, if agreed to in writing.

Updates penalty provisions to reflect that violations constitute a first-degree misdemeanor under sections 516.02, 516.031, 516.05(3), 516.05(6), and 516.07(1)(e).

Effective date July 1, 2013, and applies to all consumer finance loans entered into on or after that date.