Products > StateLaw Databases > Installment Banks

StateLaw Databases

In-depth analysis of the laws that affect consumer credit transactions and privacy

Installment Banks

Installment Banks covers consumer-purpose direct lending laws from the perspective of a depository institution (i.e. state bank, state savings bank or state savings and loan association) chartered in each state.

The following types of direct lending products are covered:

  • unsecured
  • secured by motor vehicles or other consumer goods
  • open-end lines of credit
  • closed-end loans

The responses are based on the law applicable to a state-chartered FDIC-insured depository institution in each state. In addition, Installment Banks includes all potential federal preemptions that can affect a depository institution's choice of applicable laws, whether the depository institution is lending within the state, is exporting out of the state or is exporting into the state. The product addresses issues in a question/answer format. The questions relate to licensing, fee and payment limitations, disclosures, titling and security interests, recordkeeping, collections, and other pertinent issues. Installment Banks does not cover laws related to credit card accounts, retail installment sales, mortgage loans (loans secured by real property or personal property that is or will be used as a dwelling), overdraft accounts, title loans, payday loans or commercial loans.

Installment Banks does not cover laws related to credit card accounts, retail installment sales, loans secured by real property and/or dwellings, transactions secured by personal property other than consumer goods, such as deposit accounts, insurance policies, investment accounts, or securities, title loans, payday loans, pawn transactions, rental or rent-to-own transactions, overdraft accounts, single installment loans, such as tax refund anticipation loans, deferred deposit loans, or commercial purpose loans.

Questions in the following categories are addressed:

  • Governing Law/Licensing
  • Record Retention
  • Finance Charge Rate
  • Other Fees and Charges
  • Pre-Closing Fees
  • Fees Assessed at Closing
  • Fees Imposed During the Term of the Transactions
  • Default Charges and Other Fees
  • End of Term Fees
  • Payment and Term Limitations
  • Modifications
  • Prepayment
  • Insurance
  • Insurance Issues Related only to Secured Lending and Credit Sales
  • Disclosure Requirements
  • Titling and Security Interest
  • General Title and Security Interest Questions
  • Miscellaneous Issues
  • Loan Servicing Activities
  • Collection
  • Penalties

For a personal guided tour and free trial, please contact Michael Willer at 614-855-0505, or by .