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REPORT TO THE FINANCE COMMITTEE Solicitation Terms for Credit Facilities Associated with the Aviation Enterprises Variable Rate Portfolio June 2017Purpose Staff requests that the Finance Committee
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04
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Pre-solicitation terms for credit refer to the terms and conditions that a lender must provide to a potential borrower before they apply for a credit card or loan.
Lenders are required to file pre-solicitation terms for credit in order to comply with consumer protection regulations.
Lenders must include specific information such as APR, fees, and other important terms in the pre-solicitation terms for credit document.
The purpose of pre-solicitation terms for credit is to provide borrowers with transparent and accurate information about the terms of the credit offer before they apply.
Pre-solicitation terms for credit must include information about APR, fees, penalties, and any other important terms that may affect the borrower.
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