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Can West Virginia control the amount of late fees charged by out-of-state credit cards ?

April 26, 2017charged CONTROL credit cards fees late out-of-state west virginia

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Can West Virginia control the amount of late fees charged by out-of-state credit cards ?

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No. Delinquency charges on credit cards are limited by what is allowed by statute in the state where the card was approved and issued. For instance, your VISA/MC may have been issued to you from Delaware. Even though you may reside in West Virginia, Delawares statute would apply with regard to delinquency charges on your credit card. Contact the regulatory authority in the state of issue to determine what, if any, limit on delinquency charges exists. Click here to go to a list of state regulators.