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18 U.S.C. § 891 — Definitions and rules of construction
Federal law — U.S. Code and appendices · legal_authorities
For the purposes of this chapter:
(1) To extend credit means to make or renew any loan, or to enter into any agreement, tacit or express, whereby the repayment or satisfaction of any debt or claim, whether acknowledged or disputed, valid or invalid, and however arising, may or will be deferred.
(2) The term “creditor”, with reference to any given extension of credit, refers to any person making that extension of credit, or to any person claiming by, under, or through any person making that extension of credit.
(3) The term “debtor”, with reference to any given extension of credit, refers to any person to whom that extension of credit is made, or to any person who guarantees the repayment of that extension of credit, or in any manner undertakes to indemnify the creditor against loss resulting from the failure of any person to whom that extension of credit is made to repay the same.
(4) The repayment of any extension of credit includes the repayment, satisfaction, or discharge in whole or in part of any debt or claim, acknowledged or disputed, valid or invalid, resulting from or in connection with that extension of credit.
(5) To collect an extension of credit means to induce in any way any person to make repayment thereof.
(6) An extortionate extension of credit is any extension of credit with respect to which it is the understanding of the creditor and the debtor at the time it is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation, or property of any person.
(7) An extortionate means is any means which involves the use, or an express or implicit threat of use, of violence or other criminal means to cause harm to the person, reputation, or property of
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For the purposes of this chapter:
(1) To extend credit means to make or renew any loan, or to enter into any agreement, tacit or express, whereby the repayment or satisfaction of any debt or claim, whether acknowledged or disputed, valid or invalid, and however arising, may or will be deferred.
(2) The term “creditor”, with reference to any given extension of credit, refers to any person making that extension of credit, or to any person claiming by, under, or through any person making that extension of credit.
(3) The term “debtor”, with reference to any given extension of credit, refers to any person to whom that extension of credit is made, or to any person who guarantees the repayment of that extension of credit, or in any manner undertakes to indemnify the creditor against loss resulting from the failure of any person to whom that extension of credit is made to repay the same.
(4) The repayment of any extension of credit includes the repayment, satisfaction, or discharge in whole or in part of any debt or claim, acknowledged or disputed, valid or invalid, resulting from or in connection with that extension of credit.
(5) To collect an extension of credit means to induce in any way any person to make repayment thereof.
(6) An extortionate extension of credit is any extension of credit with respect to which it is the understanding of the creditor and the debtor at the time it is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation, or property of any person.
(7) An extortionate means is any means which involves the use, or an express or implicit threat of use, of violence or other criminal means to cause harm to the person, reputation, or property of any person.
(8) The term “State” includes the District of Columbia, the Commonwealth of Puerto Rico, and territories and possessions of the United States.
(9) State law, including conflict of laws rules, governing the enforceability through civil judicial processes of repayment of any extension of credit or the performance of any promise given in consideration thereof shall be judicially noticed. This paragraph does not impair any authority which any court would otherwise have to take judicial notice of any matter of State law.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Informed use of credit** The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices.
**(b) Terms of personal property leases** The Congress also finds that there has been a recent trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that these leases have been offered without adequate cost disclosures. It is the purpose of this subchapter to assure a meaningful disclosure of the terms of leases of personal property for personal, family, or household purposes so as to enable the lessee to compare more readily the various lease terms available to him, limit balloon payments in consumer leasing, enable comparison of lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements.
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Federal law — U.S. Code and appendices · legal_authorities
Page 213
TITLE 18—CRIMES AND CRIMINAL PROCEDURE
§ 891
381, 551(d), 552(d), and 557 of Title 6, Domestic Security,
and the Department of Homeland Security Reorganiza-
tion Plan of November 25, 2002, as modified, set out as
a note under section 542 of Title 6.
§ 880. Receiving the proceeds of extortion
A person who receives, possesses, conceals, or
disposes of any money or other property which
was obtained from the commission of any of-
fense under this chapter that is punishable by
imprisonment for more than 1 year, knowing the
same to have been unlawfully obtained, shall be
imprisoned not more than 3 years, fined under
this title, or both.
(Added Pub. L. 103–322, title XXXII, § 320601(a)(1),
Sept. 13, 1994, 108 Stat. 2115.)
CHAPTER 42—EXTORTIONATE CREDIT
TRANSACTIONS
Sec.
891.
Definitions and rules of construction.
892.
Making extortionate extensions of credit.
893.
Financing extortionate extensions of credit.
894.
Collection of extensions of credit by extor-
tionate means.
[895.
Repealed.]
896.
Effect on State laws.
Editorial Notes
AMENDMENTS
1970—Pub. L. 91–452, title II, § 223(b), Oct. 15, 1970, 84
Stat. 929, struck out item 895 ‘‘Immunity of witnesses’’.
1968—Pub. L. 90–321, title II, § 202(a), May 29, 1968, 82
Stat. 159, added chapter 42 and items 891 to 896.
§ 891. Definitions and rules of construction
For the purposes of this chapter:
(1) To extend credit means to make or renew
any loan, or to enter into any agreement, tacit
or express, whereby the repayment or satisfac-
tion of any debt or claim, whether acknowledged
or disputed, valid or invalid, and however aris-
ing, may or will be deferred.
(2) The term ‘‘creditor’’, with reference to any
given extension of credit, refers to any person
making that extension of credit,
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