Washington State

Office of the Attorney General

Attorney General

Bob Ferguson

AGO 1968 NO. 1 > Jan 8 1968

The legislature, by amending RCW 19.52.020 (through enactment of § 4, chapter 23, Laws of 1967, Ex. Sess.) so as to grant to lenders of money the right to collect from borrowers a "setup charge" of four percent of the amount of funds advanced or fifteen dollars, whichever is the lesser, on loans not exceeding five hundred dollars, has not affected a lender's pre existing right to assess reasonable charges against a borrower for services actually performed in setting up a loan exceeding five hundred dollars.