The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was substantially revised in May 1995, and was most recently amended in August 2005.

Congress passed the Consumer Credit Protection Act in part to regulate the consumer credit industry. It requires creditors to disclose credit terms to consumers. The Consumer Credit Protection Act also protects consumers from loan sharks, restricts the garnishing of wages, and established the National Commission on Consumer Finance to investigate the consumer finance industry. Credit card companies and credit reporting agencies are also regulated by the Act. The Act also prohibits discrimination based on sex or marital status in the extending of credit. The Act also regulates certain debt collectors.

Credit allows consumers to finance transactions without having to pay the full cost of the merchandise at the time of the transaction. A common form of consumer credit is a credit card account issued by a financial institution. Merchants may also provide financing for products which they sell. Banks may directly finance purchases through loans and mortgages.

Almost every day, you're involved in some type of financial transaction requiring an educated decision. This site has information for you, whether you’re shopping for a mortgage or auto loan, checking the accuracy of your credit report, dealing with debt collectors, or looking for ways to protect your personal financial information.

A summary of your rights under the FCRA, FACT Act and other consumer laws.

(a) Findings.--The Congress makes the following findings: (1) Consumers have a vital interest in establishing and maintaining their credit worthiness and credit standing in order to obtain and use credit. As a result, consumers who have experienced credit problems may seek assistance from credit repair organizations which offer to improve the credit standing of such consumers. (2) Certain advertising and business practices of some companies engaged in the business of credit repair services have worked a financial hardship upon consumers, particularly those of limited economic means and who are inexperienced in credit matters. (b) Purposes.--The purposes of this title are-- (1) to ensure that prospective buyers of the services of credit repair organizations are provided with the information necessary to make an informed decision regarding the purchase of such services; and (2) to protect the public from unfair or deceptive advertising and business practices by credit repair organizations.

The FDIC has created this webpage to inform consumers about the new Fair and Accurate Credit Transactions Act's (FACTA) consumer provisions -- which gives new rights to free credit reports. FACTA also provides new rights to obtain your credit score. FACTA became law in December 2003.

The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the Equal Credit Opportunity Act (ECOA), which prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance. Creditors may ask you for most of this information in certain situations, but they may not use it when deciding whether to give you credit or when setting the terms of your credit. Not everyone who applies for credit gets it or gets the same terms: Factors like income, expenses, debts, and credit history are among the considerations lenders use to determine your creditworthiness.

The Financial Management Service a bureau of the United States Department of the Treasury, provides central payment services to Federal Program Agencies, operates the federal government's collections and deposit systems, provides government-wide accounting and reporting services, and manages the collection of delinquent debt owed to the government. FMS also supports federal agencies' financial management improvement efforts in the areas of education, consulting, and accounting operations.

The Fair Credit Reporting Act (FCRA) is an American federal law (codified at 15 U.S.C. § 1681 et seq.) that regulates the collection, dissemination, and use of consumer information, including consumer credit information. (Full Statute (PDF).) Along with the Fair Debt Collection Practices Act (FDCPA), it forms the base of consumer credit rights in the United States. It was originally passed in 1970,[1] and is enforced by the US Federal Trade Commission.

The Truth in Lending Act requires "meaningful disclosure of credit terms" and reflects a shift in emphasis from "let the buyer beware" to "let the seller disclose." It is designed to protect consumers against inaccurate and unfair credit billing and credit card practices too!

States have passed various statutes regulating consumer credit. The Uniform Consumer Credit Code has been adopted in eleven states and Guam. Its purpose is to protect consumers obtaining credit to finance their transactions, ensure that adequate credit is provided, and govern the credit industry in general.

Credit is valuable. The importance of how much credit you have and how you use it goes far beyond shopping. Whether you have good or poor credit can affect where you live and even where you work, because your credit record may be considered by prospective employers. That is why you need to understand how credit is awarded or denied and what you can do if you are treated unfairly. The major laws that regulate credit are outlined in this brochure.

European legislation harmonizes the general conditions relating to consumer credit, including the main information consumers ought to be aware of, and their obligations. This information includes the annual percentage rate of charge or, failing that, the total amount that the consumer must pay for credit.

The Consumer Credit Directive was adopted by the European Commission in May 2008, with an ensuing date for completing the transposition set for June 2010 for all member states. This Directive replaces the 1986 Consumer Credit Directive and amendments made to this Directive. The new CCD takes a maximum harmonisation approach and is intended to harmonise key aspects of consumer credit legislation in Member States as part of the objective of creating a common credit market across the European Union. At the same time, the Directive is also intended to maintain high levels of consumer protection.

The Consumer Credit Act 2006 (which was fully implemented on 1 October 2008) updates and amends CCA 1974. It establishes a fairer, more transparent and competitive credit market, updating consumer credit legislation that had been in place since the 1970s, making it more relevant to today’s consumers.

The Consumer Credit Code governs all credit transactions taking place in Australia. You have the same standard coverage wherever you live and however you use credit. The Code not only introduces standardization, it also presents credit information in a clear and easy to understand format. Credit providers such as banks, building societies, credit unions, finance companies and businesses, must tell you what your rights and obligations are in any credit arrangement. They are required by law to truthfully disclose all relevant information about your arrangement in a written contract, including interest rates, fees, commissions and other information which in the past was often hidden.

An Act to revise and amend the law governing cooperative credit associations and to provide for related and consequential matters

In this section, you will find information to assist you if you are buying goods and services on credit. We have information on cash loans, buying on credit (credit sales and hire purchase), being a guarantor and what to do if your goods are repossessed.

MyMoney.gov is the U.S. government's website dedicated to teaching all Americans the basics about financial education. Whether you are planning to buy a home, balancing your checkbook, or investing in your 401k, the resources on MyMoney.gov can help you do it better. Throughout the site, you will find important information from 20 federal agencies government wide.

NACM® was founded in 1896 to promote good laws for sound credit, protect businesses against fraudulent debtors, improve the interchange of credit information, develop better credit practices and methods, and establish a code of ethics.

The National Credit Union Administration (NCUA) is the independent federal agency that charters and supervises federal credit unions throughout the United States and its territories. NCUA administers the National Credit Union Share Insurance Fund (NCUSIF). Backed by the full faith and credit of the United States government, the NCUSIF insures the member accounts in all federal credit unions and the substantial majority of state-chartered credit unions.

The NFCC promotes the national agenda for financially responsible behavior and builds capacity for its members to deliver the highest quality financial education and counseling services.

The Consumer Credit Protection Act of 1968--which launched Truth in Lending disclosures--was landmark legislation. For the first time, creditors had to state the cost of borrowing in a common language so that you--the consumer--could figure out what the charges are, compare costs, and shop for the best credit deal. Since 1968, credit protections have multiplied rapidly. The concepts of "fair" and "equal" credit have been written into laws that bar unfair discrimination in credit transactions, require that consumers be told the reason when credit is denied, let borrowers find out about their credit records, and set up a way for consumers to settle billing disputes.

If you've recently been through a divorce - or are contemplating one - you may want to look closely at issues involving credit. Understanding the different kinds of credit accounts opened during a marriage may help illuminate the potential benefits - and pitfalls - of each.

A good credit rating is very important. Businesses inspect your credit history when they evaluate your applications for credit, insurance, employment, and even leases. They can use it when they choose to give or deny you credit or insurance, provided you receive fair and equal treatment. Sometimes, things happen that can cause credit problems: a temporary loss of income, an illness, even a computer error. Solving credit problems may take time and patience, but it doesn’t have to be an ordeal.

Articles written by attorneys and experts worldwide discussing legal aspects related to Debtor and Creditor including: bankruptcy, collections, credit and mortgage, debt recovery and insolvency.

Directory of expert testimony, forensic and legal consultants in Credit Law. An expert witness is defined as a person who has the training, education or experience on a particular subject and who is formally found to be qualified as an expert by a judge. The expert witness may give opinions in court on matters in which his or her expertise is relevant.

Banks and bank accounts are regulated by both state and federal statutory law. Bank accounts may be established by national and state chartered banks and savings associations. All are regulated by the law under which they were established.

Bankruptcy is a legally declared inability or impairment of ability of an individual or organizations to pay their creditors. Bankruptcy law provides for the development of a plan that allows a debtor to resolve his debts through the division of his assets among his creditors.