Code of Massachusetts Regulations
209 CMR - DIVISION OF BANKS AND LOAN AGENCIES
Title 209 CMR 32.00 - Disclosure Of Consumer Credit Costs And Terms
CLOSED END CREDIT
Section 32.21 - Treatment of Credit Balances
Universal Citation: 209 CMR 32.00 MA Code of Regs 32.21
Current through Register 1531, September 27, 2024
Compliance with 12 CFR 1026.21 constitutes compliance with 209 CMR 32.21; provided, however, any creditor who does not make the good faith effort as required by 12 CFR 1026.21 to refund the credit balance shall pay to the consumer interest on the balance at an annual percentage rate of 18%.
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