BANKS AND BANKING - BILLS AND NOTES - USURY - LENDER'S RIGHT TO ASSESS REASONABLE CHARGES FOR SERVICES RENDERED IN SETTING UP A LOAN
BANKS AND BANKING - BILLS AND NOTES - USURY - LENDER'S RIGHT TO ASSESS REASONABLE CHARGES FOR SERVICES RENDERED IN SETTING UP A LOAN The legislature, by amending RCW 19.52.020 (through enactment of § 4, chapter 23, Laws of 1967, Ex. Sess.) so as to grant to lenders of money the right to collect from borrowers a "setup charge" of four percent of the amount of funds advanced or fifteen dollars, whichever is the lesser, on loans not exceeding five hundred dollars, has not affected a lender's pre existing right to assess reasonable charges against a borrower for services actually performed in setting up a loan exceeding five hundred dollars.
BANKS AND BANKING - CREDIT UNIONS - BILLS AND NOTES
LEGALITY OF ALTERNATIVE CREDIT UNION SHARE DRAFT PROGRAM The establishment and operation of an alternative share draft program, as herein described, by state‑regulated credit unions would not be prohibited by the provisions of RCW 32.12.260 as earlier construed and applied in AGLO 1977 No. 28 [[to Jim Matson, State Senator, on July 7, 1977, an Informal Opinion, AIR-77528]], dealing with a significantly different credit union "share draft" scheme.
BANKS AND BANKING - CREDIT UNIONS - BILLS AND NOTES - LEGALITY OF CREDIT UNION SHARE DRAFT ACCOUNTS
BANKS AND BANKING ‑- CREDIT UNIONS ‑- BILLS AND NOTES ‑- LEGALITY OF CREDIT UNION SHARE DRAFT ACCOUNTS The establishment and operation of a "share draft" program, as herein described, by state regulated credit unions is prohibited by so much of RCW 31.12.260 as provides that no such credit unions shall ". . . carry . . . checking accounts . . ."