D.C. Code § 26-507.03: Other loan-related charges.
Where this section sits in the code
- Title 26. Banks and Other Financial Institutions.
- Chapter 5. Credit Unions.
- Subchapter I. Credit Union Act of 2020.
- Part G. Loans.
(a)
Notwithstanding the provisions of any other law in connection with extensions of credit, a District credit union may elect to contract for and receive fees and other charges for extensions of credit in connection with making, closing, disbursing, extending, collecting, renewing, or enforcing a debt in the event of a member's delinquency or breach of any obligation under the District credit union's loan contract, subject only to the provisions of this subchapter and rules promulgated pursuant to this subchapter.
(b)
A contingency or hourly arrangement established under an agreement and entered into by a District credit union with an attorney or collection agency to collect a loan of a member who is in default shall be prima facie presumed reasonable.
Collected 2026-08-29T05:44:07Z. Source file · JSON