I know Reg AA prohibits pyramiding of late fees, but if a bank complies with Reg AA and does not pyramid, but merely bills me for the late fee, can they keep reporting me late on the account for each month I have not paid the late fee? Reg AA does not seem to address this directly.
Once you have satisfied the contractual payment for a month, you should no longer be reported as late for that month, although the fact that you were late is part of the history that gets reported. For example, if you were sixty days past due for your March 2009 payment, that fact will be reflected in your credit history on that loan until the history ages off your report. If unpaid late charges are reported, they will be a separate annotation in the record.
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Once you have satisfied the contractual payment for a month, you should no longer be reported as late for that month, although the fact that you were late is part of the history that gets reported. For example, if you were sixty days past due for your March 2009 payment, that fact will be reflected in your credit history on that 