consumer credit

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Consumer credit

Credit a firm grants to consumers for the purchase of goods or services. Also called retail credit.

Consumer Credit

Any loan or line of credit that a borrower uses to purchase goods and services at the retail level. Typically, consumer credit finances any asset that depreciates quickly and is not used for investment purposes. Credit cards are a common example of consumer credit because one pays for ordinary expenses such as groceries or gasoline with a credit card; one ordinarily would not purchase stock with a credit card. Loans for education and cars are also examples of consumer credit. However, consumer credit expressly excludes loans for real estate.

consumer credit

LOANS made available to buyers of products to assist them in financing purchases. Consumer credit facilities include HIRE PURCHASE, INSTALMENT CREDIT, BANK LOANS and CREDIT CARDS.
References in periodicals archive ?
In contrast to the banking agencies' practice of examining all banks for evidence of credit discrimination, the federal employment and housing agencies do not employ routine examinations to enforce antidiscrimination statutes.
Moreover, the growing interest of housing groups, the press, and attorneys in credit discrimination will expand borrowers' knowledge of the laws that protect them and thus encourage complaints and lawsuits.
Some recent developments have changed the nature of the discussion regarding the issue of credit discrimination.
As I mentioned, the Boston study furthered our understanding of issues related to credit discrimination, and I would like to share with you some of its findings.
We advised these organizations about our complaint program and that of the other federal agencies, asking them to refer complaints that they may have received about credit discrimination to the appropriate banking authority.
We envision that the new tracing system will enhance the Board's ability to monitor and analyze its consumer complaint and inquiry data, including data involving allegations of illegal credit discrimination.