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Definitions for: uniform consumer credit code
uniform consumer credit code

law adopted in some states setting standards for consumer credit agreements. The code, applying to consumer credit agreements and installment sales contracts for amounts under $25,000, specifies creditor's remedies when a borrower defaults, and contains borrower protections against unfair or unlawful practices by a creditor.

Several states have in addition adopted their own versions of the federal truth in lending act to protect borrowers' rights and equal access to credit.

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