Credit transaction

Credit transaction means every aspect of an applicant's dealings with a creditor regarding an application for credit or an existing extension of credit (including, but not limited to, information requirements; investigation procedures; standards of creditworthiness; terms of credit; furnishing of credit information; revocation, alteration, or termination of credit; and collection procedures).

Source

12 CFR § 1002.2

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Scoping language

For the purposes of this part, unless the context indicates otherwise, the following definitions apply.

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