adequate notice Definition | Business Dictionaries from AllBusiness.com

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Business Definition for: adequate notice

adequate notice

printed notice clearly stating terms and conditions of a consumer loan or extension of credit. Lenders are required by the truth in lending act to disclose key credit terms, such as the Annual Percentage Rate , annual fee, grace period , and other pertinent information when a new account is opened, and notify customers of any subsequent changes in credit terms.

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