Ohio Retail Charge Account Agreement Initial Disclosure Statement

State:
Multi-State
Control #:
US-02855BG
Format:
Word; 
Rich Text
Instant download

Description

Various disclosures must be made by the creditor to the customer in connection with the opening of an open-end credit account. The creditor must make the disclosures required by the Federal Reserve Board's Regulation Z clearly and conspicuously in writing.
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  • Preview Retail Charge Account Agreement Initial Disclosure Statement
  • Preview Retail Charge Account Agreement Initial Disclosure Statement
  • Preview Retail Charge Account Agreement Initial Disclosure Statement

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FAQ

Electric, gas, or natural gas utility companies under the jurisdiction of the commission may disconnect service to residential customers only for the following reasons: (A) When a customer/consumer uses electricity, gas, or natural gas in a manner detrimental to the service to other consumers.

(A) Competitive retail electric service (CRES) providers shall not engage in unfair, misleading, deceptive, or unconscionable acts or practices related to, without limitation, the following activities: (1) Marketing, solicitation, or sale of a CRES. (2) Administration of contracts for CRES.

The CSPA requires sellers (or ?suppliers?) to: Not mislead consumers. Not take advantage of a consumer's illiteracy, mental disability, physical disability, or inability to understand the terms of a sale. Not sell a product or service knowing the consumer cannot afford or substantially benefit from it.

Section 2703.26 | Lis pendens in general. When a complaint is filed, the action is pending so as to charge a third person with notice of its pendency. While pending, no interest can be acquired by third persons in the subject of the action, as against the plaintiff's title.

Rule 4901-1-11 | Intervention. (A) Upon timely motion, any person shall be permitted to intervene in a proceeding upon a showing that: (1) A statute of this state or the United States confers a right to intervene.

(1) The principal amount of a precomputed loan or interest-bearing loan; (2) The original credit line of an open-end loan. (L) "Prepayment penalty" means a charge for prepayment of a loan at any time prior to five years from the date the loan contract is executed.

The Truth in Lending Act (TILA) protects you against inaccurate and unfair credit billing and credit card practices. It requires lenders to provide you with loan cost information so that you can comparison shop for certain types of loans.

Section 1345.03 | Unconscionable consumer sales acts or practices. (A) No supplier shall commit an unconscionable act or practice in connection with a consumer transaction. Such an unconscionable act or practice by a supplier violates this section whether it occurs before, during, or after the transaction.

Section 5301.36 | Entry of satisfaction. (B) Within ninety days from the date of the satisfaction of a mortgage, the mortgagee shall record a release of the mortgage evidencing the fact of its satisfaction in the appropriate county recorder's office and pay any fees required for the recording.

HB 123, also known as The Ohio Fairness in Lending Act, did the following: Set a loan maximum of $1,000. Extended loan duration to up to one year. Capped annual interest rate at 28%, but permitted several other fees that increase the actual interest rate and the costs of each loan.

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Ohio Retail Charge Account Agreement Initial Disclosure Statement