Beneath the brand new rules, the month-to-month penalty interest that loan providers may charge borrowers who default on their loans is supposed to be limited by 2.5 %.

Beneath the brand new rules, the month-to-month penalty interest that loan providers may charge borrowers who default on their loans is supposed to be limited by 2.5 %. Thursday, August 13, 2020 @ 11:15 AM | By Maggie Vourakes What’s changing? This rate is non-compounding and calculated from the outstanding concept. In addition, borrowers whom…