Consumer Credit Protection Act


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Consumer Credit Protection Act of 1968

Legislation in the United States requiring lenders to disclose to potential borrowers all terms of loans, including, but not limited to, the interest rates, applicable fees, and the length of loans. The Act also allows consumers to cancel some credit transactions that require a lien to be placed on the consumer's primary residence. For the most part, the Act does not place limits on the fees lenders may charge, but instead requires transparency. It is also called the Truth in Lending Act.

Consumer Credit Protection Act

See Truth-in-Lending Act.
References in periodicals archive ?
Florida follows the Federal Consumer Credit Protection Act, which places a cap on the maximum part of the aggregate disposable earnings of an individual for any workweek subject to garnishment and holds that such garnishment may not exceed the lesser of: 1) 25% of the disposable earnings for that week, or 2) the amount of disposable earnings which exceeds thirty times the Federal minimum hourly wage.
Various specific acts within the Consumer Credit Protection Act and the Truth in Lending Act, other than the CROA itself, may be invoked to protect consumers in the area of credit protection and debt consolidation.
This phenomenon was part of the reason for the development of the National Consumer Credit Protection Act, implemented in 2010 to ensure that credit is only issued to clients who have the capacity to repay the loan.
Te council members serve three-year terms, and advise the Fed on its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services.
Instead, we opted to combat instances of predatory lending in Idaho with the laws already under our jurisdiction," he said, referring to the Idaho Credit Code, which incorporates the Federal Consumer Credit Protection Act and Idaho's Residential Mortgage Practices Act.
The Google Apps security features are solid, but we needed to extend those services to include document retention so we could ensure compliance with The National Consumer Credit Protection Act of 2009 and other regulations.
ASIC was concerned that, as well as breaching the National Consumer Credit Protection Act 2009 (National Credit Act), charging the EFT fee contravened NSW and ACT legislation which imposed a limit on the total fees and charges allowable under consumer credit contracts.
The ECOA prohibits discrimination on the basis of a credit applicant's national origin, marital status, religion, color, sex, race, age, receipt of public assistance benefits, or the exercise of rights under the Consumer Credit Protection Act.
The Council advises the Board on a variety of consumer matters including its responsibilities under The Consumer Credit Protection Act.
Established in 1976, the Consumer Advisory Council advises the Federal Reserve Board on the exercise of its responsibilities under the Consumer Credit Protection Act and on other matters in the area of consumer financial services.
The Federal Court found that TCS and AFA each breached seven separate provisions of the National Consumer Credit Protection Act 2009 (National Credit Act) in respect of a very high proportion of loan contracts they entered into.
Topics to be discussed will include the problems with the On Time Device installed in vehicles by Mel Farr Motors as well as a discussion of other business violations of the federal Consumer Credit Protection Act and Michigan's Consumer Protection Act in the sales of vehicles.

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