Late Fee Updates: Oklahoma & South Carolina Maximum Charge Increases and Minnesota Minimum Charge Increase

Due to annual requirements, Oklahoma has updated its laws regarding the maximum dollar amounts which can be charged for late fees. Per Okla. Stat. Ann. tit. 14A, § 3-203(1) & (5), the Oklahoma Department of Consumer Credit has increased the maximum late charge for delinquent payments on a consumer loan or a revolving loan account from $33.00 to $34.00.

Due to biennial requirements, South Carolina has updated its laws regarding the minimum and maximum dollar amounts which can be charged for late fees. Per S.C. Code Ann. § 37-3-203(1) & (2), the South Carolina Department of Consumer Affairs has increased the minimum and maximum late charge for delinquent payments on a consumer loan or an open-end consumer loan. The minimum late charge has been increased from $10.20 to $10.80, and the maximum late charge has been increased from $25.50 to $27.00.

Due to biennial requirements, Minnesota has updated its laws regarding the minimum dollar amounts which can be charged for late fees. Per Minn. Stat. Ann. § 47.59(6)(a)(4), the Minnesota Department of Commerce has increased the minimum late charge for delinquent payments on a consumer loan or an open-end loan. The minimum late charge has been increased from $9.88 to $10.40.

ConformX Late Fee Defaults for maximum charge increases for Oklahoma and South Carolina will soon be updated to reflect these changes. These modifications will be pushed to Production on July 1, 2026. However, clients can test these modifications on Stage and Stage 2 environments starting on June 18, 2026. Docutech strongly urges clients to test these changes before they are pushed to Production and to report any issues to Client Support as soon as possible to ensure a smooth transition.

The minimum late charge increases for South Carolina and Minnesota do not impact Docutech’s ConformX Late Fee Defaults since these Defaults do not take into consideration permissible (rather than mandatory) minimum amounts.

If you have any questions or concerns about any of these changes, please contact Client Support at 1.800.497.3584.

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The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third-party should consult with an attorney prior to embarking upon any specific course of action.