1) Penalties for late payments are almost always governed by state contract law, not usury laws. 2) A strict limit like 1.5% strikes me as odd, since in many similar cases judges pull in all kinds of "fairness"…
1) Penalties for late payments are almost always governed by state contract law, not usury laws. 2) A strict limit like 1.5% strikes me as odd, since in many similar cases judges pull in all kinds of "fairness"…