National Commission on Consumer Finance: Additional comments on the report of the National Commission on Consumer Finance |
Common terms and phrases
agree amount financed annual percentage rate apply Association of Consumer authority Balance Subject Balloon payments billing cycle borrowers Bureau of Consumer cash advance Chairman chartered financial institutions Commission on Consumer Commission's recommendation Commissioner of Banking competition compliance computed CONG CONGRESS THE LIBRARY Consumer Credit Administrators Consumer Credit Code consumer credit laws consumer credit markets consumer credit transactions Consumer Finance consumer loan consumer protection credit grantors credit insurance credit unions creditor DEAR SENATOR PROXMIRE Debt Counseling debtor disclosure examination federally chartered financial finance charge legislation Lending Act LIBRARY OF CONGRES LIBRARY OF CONGRESS licensing minimum payment national banks National Commission NCFA permitted prepayment previous balance procedures proposed Code provisions rate ceilings rebate refund Regulation Section segment small loan statement Subcommittee on Consumer Subject to Finance supervision supervisory tion Truth in Lending U.S. Senate UCCC Uniform State Laws Wage Assignments Washington WILLIAM PROXMIRE Wisconsin Consumer Act workably competitive
Popular passages
Page 31 - This commission is specifically authorized to study and appraise the functioning and structure of the consumer finance industry as well as consumer credit transactions generally.
Page 29 - ... to Invoke the aid of any district court of the United States in requiring compliance with such subpena or order...
Page 29 - ... by the Commission and has the power to administer oaths, and in such instances to compel testimony and the production of evidence in the same manner as authorized under...
Page 29 - Commission may prescribe ; such submission shall be made within such reasonable period and under oath or otherwise as the Commission may determine; (2) to administer oaths ; (3) to require by subpena the attendance and testimony of witnesses and the production of all documentary evidence relating to the execution of its duties...
Page 36 - ... are installed or to which they are annexed, or in land to which the goods are affixed or which is maintained, repaired or improved as a result of the sale of the goods or services, if in the case of a security interest in land the debt secured is...
Page 37 - It is unlawful, with respect to attempted collection of a consumer debt, for a debt collector, creditor, or an attorney, to send a communication which simulates legal or judicial process or which gives the appearance of being authorized, issued, or approved by a governmental agency or attorney when it is not.
Page 7 - The annual percentage rate of the total finance charge. (2) The date by which, or the period (if any) within which, payment must be made in order to avoid additional finance charges or other charges.
Page 31 - The adequacy of existing arrangements to provide consumer credit at reasonable rates ; (2) The adequacy of existing supervisory and regulatory mechanisms to protect the public from unfair practices and insure the informed use of consumer credit; and (3) The desirability of Federal chartering of consumer finance companies, or other Federal regulatory measures.
Page 7 - The balance on which the finance charge was computed and a statement of how the balance was determined. If the balance is determined without first deducting all credits during the period, that fact and the amount of such payments shall also be disclosed.
Page 33 - This assumption overlooks the fact that credit life insurance is merely one form of insurance which provides for a certain amount to be paid by the insurance company in the event of death of the insured. As such it has the same characteristics as life insurance, namely, a premium stated in dollars for a period of time and in some way related to the probability of death of the insured.