consumer credit

(redirected from Credit Discrimination)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia.

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 ?
Based on provisions in both the ECOA and the FHAct, an individual who believes he has suffered prohibited credit discrimination may also seek relief directly from the courts.
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.
Fourth, we have taken formal enforcement actions, including assessment of civil money penalties, to enforce compliance with consumer protection laws, including the prohibitions against credit discrimination based on marital status, age, and race found in the fair lending laws.
Some recent developments have changed the nature of the discussion regarding the issue of credit discrimination.
The emphasis on consumer education stems, at least in part, from our concern about the very small number of complaints that we and our sister agencies have received over the years alleging illegal credit discrimination.