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Uniform consumer credit code rules Proposed Amendments new language is shaded, deleted language appears with strike through. Text in italics is explanatory and not a part of the rule. Rule 10 Records
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The uniform consumer credit code is a set of laws that govern consumer credit transactions and protect consumers from unfair lending practices.
Lenders and creditors who engage in consumer credit transactions are required to file uniform consumer credit code.
To fill out uniform consumer credit code, lenders and creditors must provide detailed information about the credit transaction, including terms, interest rates, fees, and repayment terms.
The purpose of the uniform consumer credit code is to ensure fair and transparent lending practices and protect consumers from predatory lending.
Information such as the amount borrowed, interest rates, fees, repayment terms, and any other relevant details of the credit transaction must be reported on uniform consumer credit code.
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