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1 Uniform Consumer Credit Code and Interest Rates Background. Enacted in 1973, the Kansas Uniform Consumer Credit Code (UCCC) applies to all aspects of consumer credit addressing transactions for personal, family, and household purposes.
The Uniform Consumer Credit Code (UCCC) is a model statute that provides standards for credit transactions entered into by individuals who purchase, use, maintain, and dispose of products and services.
The Uniform Consumer Credit Code (UCCC) is a draft law, adopted by 11 states, that governs consumer credit transactions. It establishes rules related to the issuance and use of all types of credit products from credit cards to mortgages.
In the state of Kansas, mortgage loan originators are required to: Complete a Criminal Background Check (CBC). Authorize a credit report through the NMLS. Fulfill all state and federal education requirements as designated by your state agency. Take and pass a National Test.
It was created in 1968 and revised in 1974. It aims to remedy problems and concerns related to consumer credit in the United States, focusing on making credit available to consumers, but not predatory or exploitative.