The Board appreciates the commenters issues in regards to the burden extortionate charges put on borrowers.

The Board appreciates the commenters issues in regards to the burden extortionate charges put on borrowers. Section 701.21(c)(7)(iii)(A)(7) Section 701.21(c)(7)(iii)(A)(7) allows an FCU to charge a fair application cost, not to ever meet or exceed $20, to all or any people trying to get a PALs I loan. The Board interprets the definition of “application…

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