PPT-Slide 1 3-1 INTRODUCTION TO CONSUMER CREDIT

OBJECTIVES Define the basic vocabulary of credit terms Identify types of lending institutions Compute finance charges for installment purchases Slide 2 Key Terms credit. Beginnings of Consumer Credit. 1890s: Express Travelers Checks introduced. 1914: Retailer-issued credit cards. 1920s. Service . stations, department stores and hotel chains began offering . credit accounts to customers. Karin Sein, dr iur. Associate Professor of Civil Law, University of Tartu. Introduction. SMS/electronic consumer loans – modern form of usury?. Leads to irresponsible borrowing practices and over-indebtedness of the consumers. CWAG. . Annual Meeting. July 21, 2015. Washington, DC . ۰. New York . ۰. Philadelphia . ۰. Chicago . ۰. Denver . ۰. Florida . www.cohenmilstein.com. Credit Reports Matter. Access to/cost of credit. Slide. . 1. 1. List the 3 major credit bureaus. 2. What's the highest credit score you can have?. 3. What is the name of the standard credit score? . Hint – 4 letter word starting with F. 4. What is the consumer law that requires the costs of a loan to be provided in writing to consumers?. Outstanding money owed by consumers. Examples. Credit Card Debt. Student Loans. Mortgages. Why Is This Important?. Americans Love Debt. At the end of 2010, Americans had $1,117,000,000 in CREDIT CARD DEBT. © . 2013 . Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.. Machine Learning. Stefan Lee. Virginia Tech. Topics: . Decision/Classification . Trees. Ensemble Methods: Bagging, . Boosting. Readings. : Murphy 16.1-. 16.2; Hastie . 9.2; Murphy . 16.4. Administrativia. OBJECTIVES. Explain how you can develop a credit . history. Examine factors . to . consider when . deciding which credit card to . secure. Define . three . factors that creditors consider when . granting credit. Fraud Quiz. Identity Fraud Quiz. How to defend yourself against Fraud. Questions to Consider. What are consumers rights and responsibilities?. What is the purpose of consumer protection laws and agencies?. Key Dimensions and Processes in theUS Credit Reporting temA review of how the nation146slargest credit bureaus manage consumer data DECEMBER 2012 x000 December 2014x0000x0000 x/Attxachexd /xBottxom x/BBoxx 6x665x34 5x090x7 29x604x 61x /Sxubtyxpe /xFootxer /xTypex /Paxginaxtionx 000x/Attxachexd /xBottxom x/BBoxx 6x665x34 5x090x7 29x604x 61x /Sxubtyxp Consumer complaints throughout the credit life cycle by demographic characteristicsConsumer Complaint Research Brief1CONSUMER FINANCIAL PROTECTION BUREAUTable of ContentsTable of Contents11Introductio March 2016 1 CONSUMER FINANCIAL PROTECTION BUREAU Director of the CFPB The Consumer Financial Protection Bureau CFPB or the Bureau began consumer response operations on July 21 2011 as the nations fir Advanced Financial Algebra. Example 1 – saving for a purchase. Heather wants to purchase an electric guitar. The price of the guitar with tax is $2,240. If she can save $90 per month, how long will it take her to save up for the guitar?.