California Financial Code 18627 – If the finance charge computed under Section 18626 is less than …
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If the finance charge computed under Section 18626 is less than twenty-five dollars ($25), a minimum finance charge of twenty-five dollars ($25) may be imposed.
(Amended by Stats. 1979, Ch. 984.)
Terms Used In California Financial Code 18627
- Minimum finance charge: The minimum, or fixed, finance charge that will be imposed during a billing cycle. A minimum finance charge usually applies only when a finance charge is imposed, that is, when you carry over a balance. Source: Federal Reserve