Finance Charge
/ˈfaɪnæns ˌʧɑrdʒ/
Definitions
- (n.) The total cost of credit, including interest, fees, and other charges, imposed on a borrower under a credit arrangement.
The finance charge on the loan increased the total repayment amount.
Forms
- finance charges
Related terms
Commentary
Finance charge definitions vary by jurisdiction and statute; it is crucial to specify the applicable legal standard when drafting disclosures or agreements.
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.