Conversion/Rollover of Existing Title Pledge or Check Cashers Act Loans

Conversion/Rollover of Existing Title Pledge or Check Cashers Act Loans. No accrued interest or service charge shall be capitalized or added to the original principal of a Title Pledge Act transaction during any conversion of the Title Pledge Act loan to an MCAA loan or any other extension or continuation of a loan made under the Title Pledge Act. Similarly, no fees or charges shall be capitalized or added to a delayed deposit transaction during any conversion of the delayed deposit transaction to an MCAA loan. Handling Fees may only be calculated on the original principal of the previous loan. Services charges and fees owed from the previous loan shall be itemized separately in the written agreement on the new loan.