Are any of your Banks operating under TILT? If so, maybe you can help me with this. Does the Act allow you to charge a renewal fee when there is no new money on a transaction? If so, is there a limit on the renewal fee as there is with the 4% max for other loans. Thanks for your help!

We only use TILT on single payment loans, $1000 or less and term 12 months or less. We are using Credit Card Bank rules for everything else. Rates up to 21% and generally fees are pretty much unlimited as long as they are disclosed to the borrower. Back to TILT, it is my understanding that you can only charge the 4% fee on new money when refinancing a loan.