precomputed finance charge
Defined in 1 place of the United States Code.
the term “precomputed finance charge” means interest or a time price differential within the meaning of sections 106(a)(1) and (2) of the Truth in Lending Act (15 U.S.C. 1605(a)(1) and (2)) as computed by an add-on or discount method; and
Source
- 1994–present12 U.S.C. § 1735FBanks and Banking · State constitution or laws limiting mortgage interest, discount points, and finance or other charges; exemption for obligations made after March 31, 1980 · in this section