NC H718

Defines "federally insured depository institution" in Chapter 24 of North Carolina General Statutes to mean an insured depository institution or insured credit union under federal law, excluding subsidiaries or affiliates that are not themselves federally insured.

Establishes enforcement authority for the Attorney General, Commissioner of Banks, and Administrator of Credit Unions to enforce Chapter 24 provisions.

Replaces references to "bank or savings institution" with "federally insured depository institution" throughout Chapter 24 statutes governing interest rates, fees, and credit extensions.

Sets caps on origination fees for unsecured loans under $100,000, ranging from $100 to $250 depending on principal amount, and limits annual percentage rate to 36% for personal loans under $5,000.

Becomes effective October 1, 2019, and applies to contracts entered into, renewed, or modified on or after that date.