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Regulation Z Definitions Part 2

2018-06-27

Regulatory Authority: Consumer Financial Protection Bureau (CFBP)

Credit Hours:

This is the second in a series of our presentations on the definitions contained in Regulation Z.
Finance Charge.  Finance charge is the most diļ¬ƒcult concept of Regulation Z because in some circumstances a particular charge is a finance charge, and in other circumstances it is not. Nonetheless having a clear understanding of what is and is not a finance charge in any particular circumstance is critical to the accurate implementation of the disclosures required by regulation Z. Generally, the finance charge is the cost of consumer credit as a dollar amount, that is, the overall cost of the credit to a consumer over the entire term of a loan.

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