Consumer Credit Act, 1974

/kənˌsju:mə 'kredɪt ækt/ noun
an Act of Parliament which licenses lenders, and requires them to state clearly the full terms of loans which they make, including the APR

Dictionary of banking and finance. 2015.

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  • Consumer Credit Act 1974 — United Kingdom Parliament Long title An Act to establish for the protection of consumers a new system, administered by the Director General of Fair Trading, of licensing and other control of traders concerned with the provision of credit, or the …   Wikipedia

  • Consumer Credit Act, 1974 — /kənˌsju:mə kredɪt ækt/ noun an Act of Parliament which licenses lenders, and requires them to state clearly the full terms of loans which they make, including the APR …   Marketing dictionary in english

  • 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 Act 2006 — The Consumer Credit Act 2006[1] Parliament of the United Kingdom Long title An Act to amend the Consumer Credit Act 1974; to extend …   Wikipedia

  • Consumer Credit Act — 1974 A UK Act of Parliament aimed at protecting the borrower in credit agreements, loans, and mortgages. The Act requires full written details of the true interest rate (i. e. annual percentage rate) to be quoted; a cooling off period to be given …   Big dictionary of business and management

  • consumer credit — n: credit extended by merchants or banks to finance the purchase of consumer goods (as home appliances) or services (as travel or hotel accommodations) compare consumer debt at debt Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • 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 credit — Short term loans to the public for the purchase of goods. The most common forms of consumer credit are credit accounts at retail outlets, personal loans from banks and finance houses, hire purchase, and credit cards Since the Consumer Credit Act… …   Big dictionary of business and management

  • consumer-credit register — The register kept by the Office of Fair Trading, as required by the Consumer Credit Act (1974), relating to the licensing or carrying on of consumer credit businesses or consumer hire businesses. The register contains particulars of undetermined… …   Big dictionary of business and management

  • 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

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