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The Trimbles Apply to Community Savings & Loan for an Installment

question 14

Essay

The Trimbles apply to Community Savings & Loan for an installment loan of $20,000 to remodel their bathroom.Discuss the disclosures Community is required to make.


Definitions:

License Plate Reader

A technology device used by law enforcement and others to capture and analyze vehicle license plates automatically.

Repossession Companies

Businesses specialized in reclaiming property on behalf of a creditor when the borrower fails to keep up with contractual payments.

Law Enforcement Agencies

Organizations at various levels (local, regional, national) responsible for the enforcement of laws and prevention, detection, and investigation of crime.

LPR Companies

Companies specializing in License Plate Recognition technology, which uses optical character recognition on images to read vehicle registration plates.

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