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 ?
131) Corporations Act 2001 (Cth) s 923A; National Consumer Credit Protection Act 2009 (Cth) s 160B.
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.
Report 530 Overview of decisions on relief applications (October 2016 to March 2017) (REP 530) notes that between 1 October 2016 and 31 March 2017, ASIC granted relief from provisions of the Corporations Act 2001 (Corporations Act) or the National Consumer Credit Protection Act 2009 (National Credit Act) in relation to 474 applications.
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 review follows Federal Court findings Nobbys Mintabie General Store operator Lindsay Kobelt engaged in credit activity which contravened the National Consumer Credit Protection Act 2009 (Cth) and the Australian Securities and Investments Commission Act 2001 (Cth).
35 million following the issue of 30 infringement notices by ASIC, under the National Consumer Credit Protection Act 2009 (National Credit Act), where ASIC had reasonable grounds to believe that Cash Converters failed to assess small amount loans as unsuitable, and entering into those unsuitable loans, when the loans were presumed to be unsuitable under the credit legislation.

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