Regulatory Alerts1997-10-01
Alabama Consumer Credit Act Annual Report Requirements
The Alabama Banking Department requires each licensee under the Alabama Consumer Credit Act to submit an annual activity report to the Superintendent of Banks by May 1. The report must utilize forms provided by the Banking Department and be sent to the State Banking Department in Montgomery. Failure to file the report on time incurs a $500 fine, while submitting an inaccurate report may result in an additional $500 penalty.
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