Restrictions on fees, penalties and advertisements

9 V.I.C. § 143 — under Home Equity Loans.

9 V.I.C. § 143

(a) No fee, penalty or other form of payment may be charged a consumer for prepayment of all or part of the balance of a home equity loan.

(b) No advertisement for a home equity loan may refer to such loan as “free money” or use any other term determined by the Banking Board to be misleading.