NC H810

Modernizes loan origination fees for North Carolina banks by establishing tiered fee structure based on principal amount: loans under $100,000 have fixed fees ranging from $100-$250, while loans $100,000 or greater are capped at 1/4 of 1% of principal amount.

Adds annual percentage rate cap of 36% for loans under $5,000 to natural persons for personal, family, or household purposes, inclusive of all permitted charges and interest.

Increases late payment charge threshold to 30 days past due (from 15 days) for loans where interest on each installment is paid in advance.

Establishes new late payment charge tier allowing banks charging the greater of $35 or 4% of past due amount for non-real property loans with original principal balance of $1,500 or greater.

Becomes effective October 1, 2018, and applies to contracts entered into, renewed, or modified on or after that date.