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10 U.S.C. § 987 — Terms of consumer credit extended to members and dependents: limitations
Federal law — U.S. Code and appendices · legal_authorities
**(a) Interest.—** A creditor who extends consumer credit to a covered member of the armed forces or a dependent of such a member shall not require the member or dependent to pay interest with respect to the extension of such credit, except as—
(1) agreed to under the terms of the credit agreement or promissory note;
(2) authorized by applicable State or Federal law; and
(3) not specifically prohibited by this section.
**(b) Annual Percentage Rate.—** A creditor described in subsection (a) may not impose an annual percentage rate of interest greater than 36 percent with respect to the consumer credit extended to a covered member or a dependent of a covered member.
**(c) Mandatory Loan Disclosures.—**
(1) **Information required.—** — With respect to any extension of consumer credit (including any consumer credit originated or extended through the internet) to a covered member or a dependent of a covered member, a creditor shall provide to the member or dependent the following information orally and in writing before the issuance of the credit:
(A) A statement of the annual percentage rate of interest applicable to the extension of credit.
(B) Any disclosures required under the Truth in Lending Act ([15 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1601&num=0&edition=prelim) et seq.).
(C) A clear description of the payment obligations of the member or dependent, as applicable.
(2) **Terms.—** — Such disclosures shall be presented in accordance with terms prescribed by the regulations issued by the Board of Governors of the Federal Reserve System to implement the Truth in Lending Act ([15 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1601&num=0&edition=prelim) et seq.).
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Source location: Title 10, Chapter 49, § 987; chapter-049-miscellaneous-prohibitions-and-penalties.md
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**(a) Interest.—** A creditor who extends consumer credit to a covered member of the armed forces or a dependent of such a member shall not require the member or dependent to pay interest with respect to the extension of such credit, except as—
(1) agreed to under the terms of the credit agreement or promissory note;
(2) authorized by applicable State or Federal law; and
(3) not specifically prohibited by this section.
**(b) Annual Percentage Rate.—** A creditor described in subsection (a) may not impose an annual percentage rate of interest greater than 36 percent with respect to the consumer credit extended to a covered member or a dependent of a covered member.
**(c) Mandatory Loan Disclosures.—**
(1) **Information required.—** — With respect to any extension of consumer credit (including any consumer credit originated or extended through the internet) to a covered member or a dependent of a covered member, a creditor shall provide to the member or dependent the following information orally and in writing before the issuance of the credit:
(A) A statement of the annual percentage rate of interest applicable to the extension of credit.
(B) Any disclosures required under the Truth in Lending Act ([15 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1601&num=0&edition=prelim) et seq.).
(C) A clear description of the payment obligations of the member or dependent, as applicable.
(2) **Terms.—** — Such disclosures shall be presented in accordance with terms prescribed by the regulations issued by the Board of Governors of the Federal Reserve System to implement the Truth in Lending Act ([15 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1601&num=0&edition=prelim) et seq.).
**(d) Preemption.—**
(1) **Inconsistent laws.—** — Except as provided in subsection (f)(2), this section preempts any State or Federal law, rule, or regulation, including any State usury law, to the extent that such law, rule, or regulation is inconsistent with this section, except that this section shall not preempt any such law, rule, or regulation that provides protection to a covered member or a dependent of such a member in addition to the protection provided by this section.
(2) **Different treatment under state law of members and dependents prohibited.—** — States shall not—
(A) authorize creditors to charge covered members and their dependents annual percentage rates of interest for any consumer credit or loans higher than the legal limit for residents of the State; or
(B) permit violation or waiver of any State consumer lending protections covering consumer credit for the benefit of residents of the State on the basis of nonresident or military status of a covered member or dependent of such a member, regardless of the member’s or dependent’s domicile or permanent home of record.
**(e) Limitations.—** It shall be unlawful for any creditor to extend consumer credit to a covered member or a dependent of such a member with respect to which—
(1) the creditor rolls over, renews, repays, refinances, or consolidates any consumer credit extended to the borrower by the same creditor with the proceeds of other credit extended to the same covered member or a dependent;
(2) the borrower is required to waive the borrower’s right to legal recourse under any otherwise applicable provision of State or Federal law, including any provision of the Servicemembers Civil Relief Act ([50 U.S.C. 3901](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section3901&num=0&edition=prelim) et seq.);
(3) the creditor requires the borrower to submit to arbitration or imposes onerous legal notice provisions in the case of a dispute;
(4) the creditor demands unreasonable notice from the borrower as a condition for legal action;
(5) the creditor uses a check or other method of access to a deposit, savings, or other financial account maintained by the borrower, or the title of a vehicle as security for the obligation;
(6) the creditor requires as a condition for the extension of credit that the borrower establish an allotment to repay an obligation; or
(7) the borrower is prohibited from prepaying the loan or is charged a penalty or fee for prepaying all or part of the loan.
**(f) Penalties and Remedies.—**
(1) **Misdemeanor.—** — A creditor who knowingly violates this section shall be fined as provided in title 18, or imprisoned for not more than one year, or both.
(2) **Preservation of other remedies.—** — The remedies and rights provided under this section are in addition to and do not preclude any remedy otherwise available under law to the person claiming relief under this section, including any award for consequential and punitive damages.
(3) **Contract void.—** — Any credit agreement, promissory note, or other contract prohibited under this section is void from the inception of such contract.
(4) **Arbitration.—** — Notwithstanding [section 2 of title 9](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title9-section2&num=0&edition=prelim), or any other Federal or State law, rule, or regulation, no agreement to arbitrate any dispute involving the extension of consumer credit shall be enforceable against any covered member or dependent of such a member, or any person who was a covered member or dependent of that member when the agreement was made.
(5) **Civil liability.—**
(A) *In general.—* — A person who violates this section with respect to any person is civilly liable to such person for—
(i) any actual damage sustained as a result, but not less than $500 for each violation;
(ii) appropriate punitive damages;
(iii) appropriate equitable or declaratory relief; and
(iv) any other relief provided by law.
(B) *Costs of the action.—* — In any successful action to enforce the civil liability described in subparagraph (A), the person who violated this section is also liable for the costs of the action, together with reasonable attorney fees as determined by the court.
(C) *Effect of finding of bad faith and harassment.—* — In any successful action by a defendant under this section, if the court finds the action was brought in bad faith and for the purpose of harassment, the plaintiff is liable for the attorney fees of the defendant as determined by the court to be reasonable in relation to the work expended and costs incurred.
(D) *Defenses.—* — A person may not be held liable for civil liability under this paragraph if the person shows by a preponderance of evidence that the violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid any such error. Examples of a bona fide error include clerical, calculation, computer malfunction and programming, and printing errors, except that an error of legal judgment with respect to a person’s obligations under this section is not a bona fide error.
(E) *Jurisdiction, venue, and statute of limitations.—* — An action for civil liability under this paragraph may be brought in any appropriate United States district court, without regard to the amount in controversy, or in any other court of competent jurisdiction, not later than the earlier of—
(i) two years after the date of discovery by the plaintiff of the violation that is the basis for such liability; or
(ii) five years after the date on which the violation that is the basis for such liability occurs.
(6) **Administrative enforcement.—** — The provisions of this section (other than paragraph (1) of this subsection) shall be enforced by the agencies specified in section 108 of the Truth in Lending Act ([15 U.S.C. 1607](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1607&num=0&edition=prelim)) in the manner set forth in that section or under any other applicable authorities available to such agencies by law.
**(g) Servicemembers Civil Relief Act Protections Unaffected.—** Nothing in this section may be construed to limit or otherwise affect the applicability of section 207 of the Servicemembers Civil Relief Act ([50 U.S.C. 3937](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section3937&num=0&edition=prelim)).
**(h) Regulations.—**
(1) The Secretary of Defense shall prescribe regulations to carry out this section.
(2) Such regulations shall establish the following:
(A) Disclosures required of any creditor that extends consumer credit to a covered member or dependent of such a member.
(B) The method for calculating the applicable annual percentage rate of interest on such obligations, in accordance with the limit established under this section.
(C) A maximum allowable amount of all fees, and the types of fees, associated with any such extension of credit, to be expressed and disclosed to the borrower as a total amount and as a percentage of the principal amount of the obligation, at the time at which the transaction is entered into.
(D) Definitions of “creditor” under paragraph (5) and “consumer credit” under paragraph (6) of subsection (i), consistent with the provisions of this section.
(E) Such other criteria or limitations as the Secretary of Defense determines appropriate, consistent with the provisions of this section.
(3) In prescribing regulations under this subsection, and not less often than once every two years thereafter, the Secretary of Defense shall consult with the following:
(A) The Federal Trade Commission.
(B) The Board of Governors of the Federal Reserve System.
(C) The Office of the Comptroller of the Currency.
(D) The Federal Deposit Insurance Corporation.
(E) The Bureau of Consumer Financial Protection.
(F) The National Credit Union Administration.
(G) The Treasury Department.
**(i) Definitions.—** In this section:
(1) **Covered member.—** — The term “covered member” means a member of the armed forces who is—
(A) on active duty under a call or order that does not specify a period of 30 days or less; or
(B) on active Guard and Reserve Duty.
(2) **Dependent.—** — The term “dependent”, with respect to a covered member, means a person described in subparagraph (A), (D), (E), or (I) of [section 1072(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title10-section1072/2&num=0&edition=prelim).
(3) **Interest.—** — The term “interest” includes all cost elements associated with the extension of credit, including fees, service charges, renewal charges, credit insurance premiums, any ancillary product sold with any extension of credit to a servicemember or the servicemember’s dependent, as applicable, and any other charge or premium with respect to the extension of consumer credit.
(4) **Annual percentage rate.—** — The term “annual percentage rate” has the same meaning as in section 107 of the Truth and Lending Act ([15 U.S.C. 1606](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1606&num=0&edition=prelim)), as implemented by regulations of the Board of Governors of the Federal Reserve System. For purposes of this section, such term includes all fees and charges, including charges and fees for single premium credit insurance and other ancillary products sold in connection with the credit transaction, and such fees and charges shall be included in the calculation of the annual percentage rate.
(5) **Creditor.—** — The term “creditor” means a person—
(A) who—
(i) is engaged in the business of extending consumer credit; and
(ii) meets such additional criteria as are specified for such purpose in regulations prescribed under this section; or
(B) who is an assignee of a person described in subparagraph (A) with respect to any consumer credit extended.
(6) **Consumer credit.—** — The term “consumer credit” has the meaning provided for such term in regulations prescribed under this section, except that such term does not include (A) a residential mortgage, or (B) a loan procured in the course of purchasing a car or other personal property, when that loan is offered for the express purpose of financing the purchase and is secured by the car or personal property procured.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) “Annual percentage rate” defined** The annual percentage rate applicable to any extension of consumer credit shall be determined, in accordance with the regulations of the Bureau,
(1) in the case of any extension of credit other than under an open end credit plan, as
(A) that nominal annual percentage rate which will yield a sum equal to the amount of the finance charge when it is applied to the unpaid balances of the amount financed, calculated according to the actuarial method of allocating payments made on a debt between the amount financed and the amount of the finance charge, pursuant to which a payment is applied first to the accumulated finance charge and the balance is applied to the unpaid amount financed; or
(B) the rate determined by any method prescribed by the Bureau as a method which materially simplifies computation while retaining reasonable accuracy as compared with the rate determined under subparagraph (A).11 So in original.
(2) in the case of any extension of credit under an open end credit plan, as the quotient (expressed as a percentage) of the total finance charge for the period to which it relates divided by the amount upon which the finance charge for that period is based, multiplied by the number of such periods in a year.
**(b) Computation of rate of finance charges for balances within a specified range** Where a creditor imposes the same finance charge for balances within a specified range, the annual percentage rate shall be computed on the median balance within the range, except that if the Bureau determines that a rate so computed would not be meaningful, or would be materially misleading, the annual percentage rate shall be computed on such other basis as the Bureau may be regulation require.
**(c) Allowable tolerances for
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Period of stay** A stay of an action, proceeding, attachment, or execution made pursuant to the provisions of this chapter by a court may be ordered for the period of military service and 90 days thereafter, or for any part of that period. The court may set the terms and amounts for such installment payments as is considered reasonable by the court.
**(b) Codefendants** If the servicemember is a codefendant with others who are not in military service and who are not entitled to the relief and protections provided under this chapter, the plaintiff may proceed against those other defendants with the approval of the court.
**(c) Inapplicability of section** This section does not apply to sections 3932 and 4021 of this title.
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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
**(a) Enforcing agencies** Subject to subtitle B of the Consumer Financial Protection Act of 2010 [[12 U.S.C. 5511](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5511&num=0&edition=prelim) et seq.], compliance with the requirements imposed under this subchapter shall be enforced under—
(1) section 8 of the Federal Deposit Insurance Act [[12 U.S.C. 1818](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1818&num=0&edition=prelim)], by the appropriate Federal banking agency, as defined in section 3(q) of the Federal Deposit Insurance Act ([12 U.S.C. 1813(q)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/q&num=0&edition=prelim)), with respect to—
(A) national banks, Federal savings associations, and Federal branches and Federal agencies of foreign banks;
(B) member banks of the Federal Reserve System (other than national banks), branches and agencies of foreign banks (other than Federal branches, Federal agencies, and insured State branches of foreign banks), commercial lending companies owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act [[12 U.S.C. 601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section601&num=0&edition=prelim) et seq., 611 et seq.]; and
(C) banks and State savings associations insured by the Federal Deposit Insurance Corporation (other than members of the Federal Reserve System), and insured State branches of foreign banks;
(2) the Federal Credit Union Act [[12 U.S.C. 1751](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1751&num=0&edition=prelim) et seq.], by the Director of the National Credit Union Administration, with respect to any
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Any person aggrieved by a violation of this chapter may in a civil action—
(1) obtain any appropriate equitable or declaratory relief with respect to the violation;
(2) recover all other appropriate relief, including monetary damages; and
(3) be a representative party on behalf of members of a class or be a member of a class, in accordance with the Federal Rules of Civil Procedure, notwithstanding any previous agreement to the contrary.
**(b) Costs and attorney fees** The court may award to a person aggrieved by a violation of this chapter who prevails in an action brought under subsection (a) the costs of the action, including a reasonable attorney fee.
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Federal law — U.S. Code and appendices · legal_authorities
A written provision in any maritime transaction or a contract evidencing a transaction involving commerce to settle by arbitration a controversy thereafter arising out of such contract or transaction, or the refusal to perform the whole or any part thereof, or an agreement in writing to submit to arbitration an existing controversy arising out of such a contract, transaction, or refusal, shall be valid, irrevocable, and enforceable, save upon such grounds as exist at law or in equity for the revocation of any contract or as otherwise provided in chapter 4.
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Federal law — U.S. Code and appendices · legal_authorities
Page 894
TITLE 10—ARMED FORCES
§ 986
of the National Cemetery Administration by
reason of section 2411(b) of title 38 is not enti-
tled to or eligible for, and may not be provided,
burial in—
(1) Arlington National Cemetery;
(2) the Soldiers’ and Airmen’s National Cem-
etery; or
(3) any other cemetery administered by the
Secretary of a military department or the Sec-
retary of Defense.
(c) UNCLAIMED
REMAINS
OF
MILITARY
PRIS-
ONERS.—Subsection (b) shall not preclude the
burial at the United States Disciplinary Bar-
racks Cemetery at Fort Leavenworth, Kansas, of
a military prisoner, including a military pris-
oner who is a person described in section 2411(b)
of title 38, who dies while in custody of a mili-
tary department and whose remains are not
claimed by the person authorized to direct dis-
position of the remains or by other persons le-
gally authorized to dispose of the remains.
(d) DEFINITION.—In this section, the term
‘‘burial’’ includes inurnment.
(Added Pub. L. 105–85, div. A, title X, § 1077(a)(1),
Nov. 18, 1997, 111 Stat. 1914; amended Pub. L.
107–296, title XVII, § 1704(b)(1), Nov. 25, 2002, 116
Stat. 2314; Pub. L. 109–163, div. A, title VI,
§ 662(b)(1)–(3), (c)(1), Jan. 6, 2006, 119 Stat. 3315;
Pub. L. 115–232, div. A, title V, § 592, Aug. 13, 2018,
132 Stat. 1788.)
Editorial Notes
AMENDMENTS
2018—Subsec. (b). Pub. L. 115–232, § 592(1), substituted
‘‘Except as provided in subsection (c), a person who is
ineligible’’ for ‘‘A person who is ineligible’’ in introduc-
tory provisions.
Subsecs. (c), (d). Pub. L. 115–232, § 592(2), (3), added
subsec. (c) and redesignated former subsec. (c) as (d).
2006—Pub. L. 109–163, § 662(c)(1), substituted ‘‘Persons
convicted of capital crimes; certain other persons: de-
nial of specified burial-relat
Source: Supplied 2024 U.S. Code historical extraction · 10 U.S.C. § 987
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 1452
TITLE 15—COMMERCE AND TRADE
§ 1601
Sec.
1679f.
Noncompliance with this subchapter.
1679g.
Civil liability.
1679h.
Administrative enforcement.
1679i.
Statute of limitations.
1679j.
Relation to State law.
SUBCHAPTER III—CREDIT REPORTING AGENCIES
1681.
Congressional findings and statement of pur-
pose.
1681a.
Definitions; rules of construction.
1681b.
Permissible purposes of consumer reports.
1681c.
Requirements relating to information con-
tained in consumer reports.
1681c–1.
Identity theft prevention; fraud alerts and ac-
tive duty alerts.
1681c–2.
Block of information resulting from identity
theft.
1681c–3.
Adverse information in cases of trafficking.
1681d.
Disclosure of investigative consumer reports.
1681e.
Compliance procedures.
1681f.
Disclosures to governmental agencies.
1681g.
Disclosures to consumers.
1681h.
Conditions and form of disclosure to con-
sumers.
1681i.
Procedure in case of disputed accuracy.
1681j.
Charges for certain disclosures.
1681k.
Public record information for employment
purposes.
1681l.
Restrictions on investigative consumer re-
ports.
1681m.
Requirements on users of consumer reports.
1681n.
Civil liability for willful noncompliance.
1681o.
Civil liability for negligent noncompliance.
1681p.
Jurisdiction of courts; limitation of actions.
1681q.
Obtaining information under false pretenses.
1681r.
Unauthorized disclosures by officers or em-
ployees.
1681s.
Administrative enforcement.
1681s–1.
Information on overdue child support obliga-
tions.
1681s–2.
Responsibilities of furnishers of information
to consumer reporting agencies.
1681s–3.
Affiliate sharing.
1681t.
Relation to State laws.
1681u.
Disclosures to FBI for counterintelligence
purposes.
1681v.
Disclosure
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1601
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Federal law — U.S. Code and appendices · legal_authorities
Page 1467
TITLE 15—COMMERCE AND TRADE
§ 1607
1 So in original.
priate regulation in order to effect any change included
in the report under paragraph (1), and shall publish the
regulation in the Federal Register before the end of the
1-year period beginning on the date of enactment of
this Act.’’
§ 1606. Determination of annual percentage rate
(a) ‘‘Annual percentage rate’’ defined
The annual percentage rate applicable to any
extension of consumer credit shall be deter-
mined, in accordance with the regulations of the
Bureau,
(1) in the case of any extension of credit
other than under an open end credit plan, as
(A) that nominal annual percentage rate
which will yield a sum equal to the amount
of the finance charge when it is applied to
the unpaid balances of the amount financed,
calculated according to the actuarial meth-
od of allocating payments made on a debt
between the amount financed and the
amount of the finance charge, pursuant to
which a payment is applied first to the accu-
mulated finance charge and the balance is
applied to the unpaid amount financed; or
(B) the rate determined by any method
prescribed by the Bureau as a method which
materially simplifies computation while re-
taining reasonable accuracy as compared
with the rate determined under subpara-
graph (A).1
(2) in the case of any extension of credit
under an open end credit plan, as the quotient
(expressed as a percentage) of the total finance
charge for the period to which it relates di-
vided by the amount upon which the finance
charge for that period is based, multiplied by
the number of such periods in a year.
(b) Computation of rate of finance charges for
balances within a specified range
Where a creditor imposes the same finance
charge for balances within a s
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1606
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Federal law — U.S. Code and appendices · legal_authorities
Page 1467
TITLE 15—COMMERCE AND TRADE
§ 1607
1 So in original.
priate regulation in order to effect any change included
in the report under paragraph (1), and shall publish the
regulation in the Federal Register before the end of the
1-year period beginning on the date of enactment of
this Act.’’
§ 1606. Determination of annual percentage rate
(a) ‘‘Annual percentage rate’’ defined
The annual percentage rate applicable to any
extension of consumer credit shall be deter-
mined, in accordance with the regulations of the
Bureau,
(1) in the case of any extension of credit
other than under an open end credit plan, as
(A) that nominal annual percentage rate
which will yield a sum equal to the amount
of the finance charge when it is applied to
the unpaid balances of the amount financed,
calculated according to the actuarial meth-
od of allocating payments made on a debt
between the amount financed and the
amount of the finance charge, pursuant to
which a payment is applied first to the accu-
mulated finance charge and the balance is
applied to the unpaid amount financed; or
(B) the rate determined by any method
prescribed by the Bureau as a method which
materially simplifies computation while re-
taining reasonable accuracy as compared
with the rate determined under subpara-
graph (A).1
(2) in the case of any extension of credit
under an open end credit plan, as the quotient
(expressed as a percentage) of the total finance
charge for the period to which it relates di-
vided by the amount upon which the finance
charge for that period is based, multiplied by
the number of such periods in a year.
(b) Computation of rate of finance charges for
balances within a specified range
Where a creditor imposes the same finance
charge for balances within a s
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1607
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 1607. This identifies an authority to review, not proof of applicability.