Code of Virginia (Last Updated:July 28, 2020) |
TITLE 6.2. Financial Institutions and Services |
SUBTITLE I. General Provisions |
CHAPTER 3. Interest and Usury |
ARTICLE 4. Loans Exempt From Limit on Contract Rate of Interest |
SECTION 6.2-309. Charges by banks and savings institutions on installment loans |
Notwithstanding any statutory or case law, a bank or savings institution making a loan payable in installments may impose finance charges and other charges and fees at such rates and in such amounts and manner as the borrower has agreed. 1987, c. 622, § 6.1-330.60; 1996, c. 242 ; 1997, c. 242 ; 1999, c. 242 ; 2001, c. 242 ; 2010, c. 242 . |