Implementation of the Credit Control Act: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, Second Session ... March 18, 1980

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Página 130 - Open end credit" means consumer credit extended on an account pursuant to a plan under which (1) the creditor may permit the customer to make purchases or obtain loans, from time to time, directly from the creditor or indirectly by use of a credit card, check, or other device, as the plan may provide; (2) the customer has the privilege of paying the balance in full or In Installments; and (3) a finance charge may be computed by the creditor from time to time on an outstanding unpaid balance.
Página 92 - Evidences an indebtedness arising from a transfer of direct obligations of, or obligations that are fully guaranteed as to principal and interest by, the United States or any agency thereof that the bank is obligated to repurchase...
Página 99 - ... in conformity with the rules and regulations, prevailing from time to time, of the Board of Governors of the Federal Reserve System pertaining to the collective investment of trust funds by national banks.
Página 5 - credit sale" refers to any sale with respect to which credit is extended or arranged by the seller. The term includes any contract in the form of a bailment or lease if the bailee or lessee contracts to pay as compensation for use a sum substantially equivalent to or in excess of the aggregate value of the property and services involved and it is agreed that the bailee or lessee will become, or for no other or...
Página 122 - ... with the Securities and Exchange Commission under the Investment Company Act of 1940, such reliance would constitute reasonable cause for purposes of this paragraph.
Página 91 - For the purposes of this part, the term "deposits" shall be deemed to include any promissory note, acknowledgment of advance, due bill, or similar instrument that is issued by a member bank principally as a means of obtaining funds to be used in its banking business, except any such...
Página 5 - Organization" means a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. (12) "Payable in instalments...
Página 5 - organization" means a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association. (d) The term "person" means a natural person or an organization. (e) The term "credit...
Página 5 - Definitions and rules of construction (a) The definitions and rules of construction set forth in this section are applicable for the purposes of this title. (b) The term "Board" refers to the Board of Governors of the Federal Reserve System. (c) The term "organization" means a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association.
Página 130 - credit" means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment. (f) The term "creditor...

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