MO HB2130

Defines "open-end credit" as credit extended under a plan with repeated transactions, variable finance charges, and credit availability that replenishes as balances are paid down.

Applies to non-bank lenders only, excluding banks, trust companies, credit unions, savings banks, and savings and loan companies.

Allows lenders to charge simple interest at rates agreed to by the parties, plus specific permitted fees including annual fees up to $50 and credit advance fees up to the lesser of $75 or 10% of the credit advanced.

Requires lenders to assess borrowers' financial ability to repay and retain records for at least two years.

Permits additional fees for late payments (up to 5% of minimum payment or $15, not exceeding $50), returned payment processing, filing and recording costs, repossession expenses, and attorney's fees up to 15% if collection litigation is necessary.