Posted on February 25, 2020
How does leap year affect lending? There are definite ramifications for a year which is 365 days, 5 hours, 48 minutes, and 46 seconds long.
Posted on July 23, 2019
“Simple interest” is far from simple—resulting in unexpected complications and misunderstandings in consumer lending. Prior to the digital lending age, many consumer credit disclosures and calculations were performed in a pre-computed environment. In Part 1 of this 2 - part series, we explore the differences between a pre-computed consumer credit contract and a simple interest computation relevant to both indirect retail installment sales and direct loan disclosures.
Posted on October 29, 2018AFSA State Government Affairs Committee Year-to-Date Enacted Legislation Report Carleton's Corporate Attorney, Sarah Way, presented the following content to Committee members during the AFSA Annual C...
Posted on October 04, 2018ACCURACY MATTERS when it comes to Regulation Z Annual Percentage Rate Calculations. Carleton regularly receives client inquiries regarding how best to achieve accuracy in Truth-in-Lending (...
Posted on December 15, 2017
When the Dodd-Frank Wall Street Reform and Consumer Protect Act (Dodd-Frank) was passed on July 21, 2010, every U.S. financial organization or other lending entity offering products to consumers were mandated to abide by to new regulatory compliance rules and policies.