Louisiana Administrative Code › Title 10 - FINANCIAL INSTITUTIONS, CONSUMER CREDIT, INVESTMENT SECURITIES AND UCC › Part XI - Consumer Credit › Chapter 9 - Additional Fees and Charges › Section XI-905 - Procedure for Consumers of Financial Services to Comment on Petitioner's Request for Approval of Additional Fees and Charges

Current through Register Vol. 50, No. 6, June 20, 2024
A. When a creditor petitions the commissioner
				to request approval of an additional fee or charge in accordance with this
				rule, a notice may be published in the
Louisiana Register
that
				such petition has been received by the commissioner. The notice shall apprise
				the public that a formal request for an additional fee or charge has been made
				and that the commissioner will consider the merits of the request and make a
				decision regarding its approval within a time to be stated in the notice. Any
				interested person, shall have the opportunity to submit written comments,
				observations, or objections to the request. The comments, observations, or
				objections shall bear a postmark of not later than 15 days after publication of
				the notice in the
Louisiana Register
.
B. In addition to the public notice that is
				provided for by §903 C, the commissioner may inform the general public by
				a press release, which is distributed to newspapers which have a general
				circulation, that a creditor has filed a petition requesting approval of an
				additional fee or charge and that any interested person may make comments,
				observations, or objections known in the same manner and in the same time as is
				provided for in Subsection A of this Section.
C. The notice which is provided for by
				§903. C and the press release which is permitted by Subsection B of this
				Section shall briefly summarize the creditor's reasons for requesting the
				additional fee or charge. The notice and press release shall inform the general
				public that any person may obtain a copy of the creditor's request, including
				any attachments or documents filed therewith to support the request, at no cost
				to the person requesting it. A copy of the petition and attachments may be
				obtained by a written request sent via U.S. Postal Service, addressed to the
				Chief Examiner, Non-Depository Division, Office of Financial Institutions, 8660
				United Plaza Boulevard, Baton Rouge, LA 70809. In the alternative, any person
				may obtain, in person, a copy at the same address between the hours of 8 a.m.
				and 4:30 p.m., Monday through Friday.
D. By the end of the month following the
				month in which the petition for additional fees and charges was filed with the
				Office of Financial Institutions, if the fee or charge is approved, the
				commissioner may announce the decision and publish it in the Potpourri section
				of the
Louisiana Register
which is issued in the month
				following the decision.
E. The
				creditor shall, within 30 days after the Office of Financial Institutions
				receives the Office of the State Register's invoice for costs of publication,
				reimburse the Office of Financial Institutions the total cost of publishing the
				notices provided for by Subsections A, C and D.
AUTHORITY NOTE:
				  Promulgated in accordance with
				  R.S.
				  9:3517(C).