HRS §478-7
No one can sue to collect compound interest
This law says you cannot sue in any Hawaii court to get compound interest on a consumer credit deal or any credit card agreement. It only stops lawsuits for compound interest, not other types of interest or debts.
borrowerscreditorsdebtorsfinancial institutions
The statute, as written — Compound, not recoverable
No action shall be maintainable in any court of the State to recover compound interest upon any consumer credit transaction or upon any credit card agreement whatever. [CC 1859, §1484; RL 1925, §3590; RL 1935, §7056; RL 1945, §8737; RL 1955, §191-7; HRS §478-7; am L 1986, c 137, pt of §1]
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.