Consumer Credit Protection Act
- Consumer Credit Protection Act
-
The Consumer Credit Protection Act, Pub.L. 90-321, 82 Stat. 146, enacted June 29, 1968, composed of several titles relating to consumer credit, mainly title I, the Truth in Lending Act, title II related to extortionate credit transactions, title III related to restrictions on wage garnishment, and title IV related to the National Commission on Consumer Finance.
The restrictions on wage garnishment guard employees from discharge by their employers because their wages have been garnished in any one week. The Wage and Hour Division of the United States Department of Labor, which includes the Employment Standards Administration, enforces the provisions. The informed use of credit is administered by the United States Congress and stabilizes economic acts to be enhanced with competition informed unto various financial institutions that are engaged in extension of consumer credit that would be strengthened otherwise by informed credit use.[citation needed]
References
External links
Wikimedia Foundation.
2010.
Look at other dictionaries:
Consumer Credit Protection Act Of 1968 — Federal legislation that created disclosure requirements that must be followed by consumer lenders such as banks, credit card companies and auto leasing firms. Pursuant to the act, consumer lenders were required to inform consumers about annual… … Investment dictionary
Consumer Credit Protection Act — 1968 The US equivalent of the UK Consumer Credit Act (1974). The Act is enforced by the Federal Reserve Bank … Big dictionary of business and management
National Consumer Credit Protection Act — The National Consumer Credit Protection Act 2009 (NCCP Act) is an Australian Federal law, passed on 15 December 2009. It came into force on 1 April 2010.[1] References ^ National Consumer Credit Protection Act 2009 comlaw.gov.au Categories:… … Wikipedia
Consumer Credit Protection Act of 1968 — Federal legislation establishing rules for the disclosure of the terms of a loan to protect borrowers. Bloomberg Financial Dictionary See: Truth in Lending Law. Bloomberg Financial Dictionary … Financial and business terms
consumer credit — credit extended by a retail store, bank, finance company, or other lender, chiefly for the purchase of consumer goods. [1925 30] * * * Short and intermediate term loans used to finance the purchase of commodities or services for personal… … Universalium
Consumer Protection Act — may refer to: US Agriculture and Consumer Protection Act of 1973, US Anticybersquatting Consumer Protection Act, US, 1999 Bankruptcy Abuse Prevention and Consumer Protection Act, US, 2005 Consumer Credit Protection Act, US Dodd–Frank Wall Street… … Wikipedia
Consumer Credit Act — may refer to: Consumer Credit Act 1974 Consumer Credit Act 2006 Consumer Credit Protection Act This disambiguation page lists articles associated with the same title. If an … Wikipedia
consumer credit — Short term loans to individuals for purchase of consumer goods and services See also Consumer Credit Code Consumer Credit Protection Act consumer credit sale consumer credit transaction credit card Equal Credit Opportunity Act … Black's law dictionary
consumer credit — Short term loans to individuals for purchase of consumer goods and services See also Consumer Credit Code Consumer Credit Protection Act consumer credit sale consumer credit transaction credit card Equal Credit Opportunity Act … Black's law dictionary
Fair Credit Reporting Act — ( FCRA) Consumer protection legislation enacted in 1968 as part of the Consumer Credit Protection Act to ensure that the banking system in the United States would have a reliable credit reporting system. The stated purpose of the Fair Credit… … Financial and business terms
