Massachusetts General Laws ch. 255B sec. 22 – Violation of Secs. 9 to 14 or Secs. 18 to 20; effect
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Section 22. A violation of sections nine to fourteen, inclusive, or eighteen to twenty, inclusive, by any person shall bar his recovery of any finance charge, delinquency or collection charge or refinancing charge on the retail instalment contract involved.
Terms Used In Massachusetts General Laws ch. 255B sec. 22
- Contract: A legal written agreement that becomes binding when signed.
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC