§ 22306 Maximum Finance Charge Limit

• •Lenders can't charge you more money than the law allows.
• •If a lender and a broker work together, their total fees can't be more than the maximum allowed.
• •This rule is to stop people from paying too much when they borrow money.

You borrow $1000 from a lender, and they charge you $100 in fees. The broker also charges you $50.

The law says the total fees from the lender and broker can't be more than a certain amount. If the maximum allowed is $120, then the $150 total fee is too much and not allowed.