After decades of being stuck with an out-of-date NSF fee that left you holding the bag every time a tenant gave you an NSF payment, with you paying more to YOUR bank than you were allowed to charge back to the tenant who gave you the NSF payment in the first place, our Legislature has heard the cries and made a change!
Starting on Oct. 1 of this year, then, for any check written after that date that is refused for insufficient funds or no account, you will be permitted to charge and collect an NSF processing fee of a maximum of $35 (instead of just $25). Make sure you check with your attorney for advice about how to implement and take advantage of this change, but regardless – Bravo to our State Lawmakers!
Subscribe to the Loebsack & Brownlee blog!
Get notified every time we publish a new blog post.