The Truth in Lending Act and Regulation Z Sample Clauses

The Truth in Lending Act and Regulation Z. The Federal Truth in Lending Act and Regulation Z promulgated thereunder by the Consumer Financial Protection Bureau ("CFPB") are intended to promote the informed use of consumer credit by requiring disclosures to be provided about its terms and costs. Regulation Z also includes certain substantive consumer protections. Numerous disclosure requirements must be made at the time the transaction is consummated, including the APR; the repayment schedule; the Total of Payments; what the rights are to prepay the loan; whether the credit transaction is secured, and if so, by what? This is just a partial listing of the Regulation Z disclosure requirements. The TILA and Regulation Z impose a range of penalties upon the creditor for faulty disclosure documents, even if unintentional. Class action penalties also may ensue for violations consisting of a "pattern or practice." In AmeriFirst's Merchant Financing Program, the applicable state form for the installment sales contract and disclosure to be used on your behalf is obtained by AmeriFirst from a national forms vendor who represents and warrants that the document complies with all applicable state and federal law. In many states, there are applicable state consumer protection laws that increase the disclosure burden or put additional restrictions in place that must be complied with (e.g., late charges; remedies upon default.) Your obligation under the Merchant Financing Agreement is to deliver the properly completed TILA disclosures and sales contract to the customers after they have been approved for financing, at the time the transaction is signed or otherwise according to AmeriFirst's Operating Instructions. If you have any questions about the TILA, Regulation Z or the disclosures that must be included on your combined sales purchase contract/disclosure form, please contact an AmeriFirst representative at 800-228-2179. State Laws:
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Related to The Truth in Lending Act and Regulation Z

  • Georgia Fair Lending Act No Mortgage Loan is secured by a property in the state of Georgia and originated between October 1, 2002 and March 7, 2003.

  • Predatory Lending Regulations No Mortgage Loan is a High Cost Loan or Covered Loan, as applicable, and no Mortgage Loan originated on or after October 1, 2002 through March 6, 2003 is governed by the Georgia Fair Lending Act. No Mortgage Loan is covered by the Home Ownership and Equity Protection Act of 1994 and no Mortgage Loan is in violation of any comparable state or local law;

  • Credit Reporting; Gramm-Leach-Bliley Act (a) With respect to each Mortgage Loan, each Sexxxxxx xxxxxx xx xully furnish, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information (e.g., favorable and unfavorable) on its borrower credit files to Equifax, Experian and TransUnion Credit Information Company (three of the credit repositories), on a monthly basis.

  • Credit Reporting For each Mortgage Loan, the Company shall accurately and fully furnish, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information on its borrower credit files to each of the following credit repositories: Equifax Credit Information Services, Inc., TransUnion, LLC and Experian Information Solution, Inc. on a monthly basis.

  • Predatory Lending Regulations; High Cost Loans None of the Mortgage Loans are classified as (a) “high cost” loans under the Home Ownership and Equity Protection Act of 1994 or (b) “high cost,” “threshold,” “predatory” or “covered” loans or “High Cost Home Loans” under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees);

  • Export Regulation You acknowledge that the Licensed Software and related technical data and services (collectively "Controlled Technology") are subject to the import and export laws of the United States, specifically the U.S. Export Administration Regulations (EAR), and the laws of any country where Controlled Technology is imported or re-exported. You agree to comply with all relevant laws and will not to export any Controlled Technology in contravention to U.S. law nor to any prohibited country, entity, or person for which an export license or other governmental approval is required. All Symantec products, including the Controlled Technology are prohibited for export or re-export to Cuba, North Korea, Iran, Syria and Sudan and to any country subject to relevant trade sanctions. You hereby agree that You will not export or sell any Controlled Technology for use in connection with chemical, biological, or nuclear weapons, or missiles, drones or space launch vehicles capable of delivering such weapons.

  • Americans with Disabilities Act Compliance a. When the Project scope includes work on sidewalks, curb ramps, or pedestrian- activated signals or triggers an obligation to address curb ramps or pedestrian signals, the Parties shall:

  • Export Regulations Licensee agrees and accepts that Software may be subject to import and export laws of any country, including those of the European Union and United States (specifically the Export Administration Regulations (EAR)). Licensee acknowledges that it is not a citizen, national, or resident of, and is not under control of the governments of Cuba, Iran, North Korea, Sudan or Syria and is not otherwise a restricted end-user as defined by applicable export control laws. Further, Licensee acknowledges that it will not download or otherwise export or re-export Software or any related technical data directly or indirectly to the above-mentioned countries or to citizens, nationals, or residents of those countries, or to any other restricted end user or for any restricted end-use.

  • Fair Credit Reporting Act The Servicer has fully furnished, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information (e.g., favorable and unfavorable) on its borrower credit files to Equifax, Experian and Trans Union Credit Information Company (three of the credit repositories) on a monthly basis.

  • Compliance with Federal Law, Regulations, and Executive Orders This is an acknowledgement that FEMA financial assistance will be used to fund all or a portion of the contract. The contractor will comply with all applicable Federal law, regulations, executive orders, FEMA policies, procedures, and directives.

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