Rhode Island § 6-27-2 § 6-27-2. Declaration of purpose.

Rhode Island Statutes

§ 6-27-2 — § 6-27-2. Declaration of purpose.

Rhode Island·Title 6 Commercial Law – General Regulatory Provisions·Ch. 6-27 Truth in Lending and Retail Selling

§ 6-27-2. Declaration of purpose.
The general assembly finds that economic stabilization would be enhanced and that
            competition among the various financial institutions and other firms engaged in the
            extension of consumer credit would be strengthened by the informed use of credit.
            The informed use of credit results from an awareness of the cost of credit by consumers.
            It is the purpose of this chapter to assure a meaningful disclosure of credit terms
            so that the consumer will be able to compare more readily the various credit terms
            available to him or her and thus avoid the uninformed use of credit.
         

Free access — add to your briefcase to read the full text and ask questions with AI

§ 6-27-2. Declaration of purpose.

The general assembly finds that economic stabilization would be enhanced and that competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost of credit by consumers. It is the purpose of this chapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him or her and thus avoid the uninformed use of credit.

Rhode Island § 6-27-2 (§ 6-27-2. Declaration of purpose.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.