Consumer Finance Law
/ˈkɒnsjuːmər ˈfaɪnæns lɔː/
Definitions
- (n.) The body of law governing the financial transactions and credit extended to consumers by lenders and financial institutions.
Consumer finance law regulates interest rates and disclosure requirements in personal loans.
- (n.) Statutory and regulatory framework protecting consumers in credit and lending practices, including credit cards, mortgages, and payday loans.
Under consumer finance law, lenders must provide clear terms and fair treatment to borrowers.
Forms
- consumer finance law
Related terms
See also
Commentary
Consumer finance law focuses on the intersection of consumer protection and financial regulation; drafters should carefully distinguish it from general contract or banking law.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.