GE Capital Retail Consumer Loan Complaint

GE Capital Retail Consumer loan department,

Installment loan Managing the loan or lease Arkansas

I was legitimately charged a late fee. The statement which showed the late fee did not clearly show that my minimum payment increased ( from $88.00 to $120.00 ... the $88.00 is principal, the $35.00 is a late fee, total is $120.00 ). I paid $100.00 the next month. The remaining $23.00 was charged another $35.00 late fee the next month. Because my $100.00 payment covered the $88.00 principal, the bank charged me a late fee on top of a late fee. I learned that this practice is considered pyramiding, and it is unfair and deceptive and not allowed. When I pointed that out to the bank, they refunded my fee, but said that their system automatically charges a late fee if the minimum payment is n't satisfied, even if the minimum payment includes fees. I 'm sure I 'm not the only - who has experienced this, and while I was refunded, other customers I 'm sure are n't and the bank is committing an illegal act that needs to stop.