The California Fee Disclosure Statement is a document provided by the state of California that outlines the fees associated with certain financial services. It is required by California law for any institution offering banking, savings and loan, or other financial services. The statement must include the total amount of fees, the fee rate, the frequency of the fee, and the amount of the fee as a percentage of the total amount of the service. There are two main types of California Fee Disclosure Statements: one for banking services and one for non-banking services. For banking services, the statement must include all fees directly related to the account, such as account maintenance fees, overdraft fees, ATM fees, and transfer fees. For non-banking services, the statement must include all fees associated with the service, such as application fees, origination fees, late fees, and other related expenses. Both statements must be provided to the customer prior to the completion of any transaction.
The California Fee Disclosure Statement is a document provided by the state of California that outlines the fees associated with certain financial services. It is required by California law for any institution offering banking, savings and loan, or other financial services. The statement must include the total amount of fees, the fee rate, the frequency of the fee, and the amount of the fee as a percentage of the total amount of the service. There are two main types of California Fee Disclosure Statements: one for banking services and one for non-banking services. For banking services, the statement must include all fees directly related to the account, such as account maintenance fees, overdraft fees, ATM fees, and transfer fees. For non-banking services, the statement must include all fees associated with the service, such as application fees, origination fees, late fees, and other related expenses. Both statements must be provided to the customer prior to the completion of any transaction.
