fbpx

Responsible Lending

FederalCreditLoans.com is fully committed to responsible lending and conducts rigorous due diligence and compliance audits of all lenders in our network to ensure compliance with all applicable lending laws. All consumers are encouraged to research and understand the laws regulating the lending industry in order to avoid malicious lenders and businesses that engage in unlawful and/or unethical practices.

Truth in Lending Act

The Federal Truth in Lending Act requires lenders to provide borrowers with accurate and adequate information about loan term and costs. These terms and costs will vary for each individual borrower and from lender to lender. Factors that affect loan costs and terms may include the amount of the loan, length of the term, APR, repayment plan, and any associated fees. By law, lenders are required to present you with your loan terms, including the rates, and all costs associated with the loan, prior to execution of the loan documents. It is important that you thoroughly review the documents provided by your lender before agreeing to the terms of any loan. As always, you have zero obligation at any time to accept the presented loan terms if you determine them to be unsuitable. Please be aware that loan approvals, interest rates, fees, and terms are determined solely by your lender. FederalCreditLoans.com is not a lender and does not have jurisdiction, control or knowledge of the loan details between you and your lender.

Please visit the Rates & Fees section of this website to learn about current regulations and State laws.

Fair Lending

FederalCreditLoans.com supports all provisions of the Fair Lending Act. This Act require Lenders to afford to consumer’s fair, equitable, and nondiscriminatory access to credit. Further, The Dodd-Frank Wall Street Reform Act proscribes that all lenders must engage in "fair lending" practices. The Dodd-Frank Wall Street Reform Act also tasks the Consumer Financial Protection Bureau with the enforcement fair lending rules and regulations. At FederaCreditLoans.com, we make every effort to ensure that we only work with lenders who comply with all fair lending laws.

Fair Debt Collection Process

FederalCreditLoans.com supports all provisions of the Fair Debt Collection Practices Act as enforced by the Federal Trade Commission, and is committed to working only with lenders that are compliant with the Act. FederalCreditLoans.com itself is not the lender, bank, creditor, or debt collector, and does not engage in any debt collection activities. However, FederalCreditLoans.com strives to only work with lenders that are in compliance with any and all applicable collection laws. The lenders in our network avoid the following practices when collecting on debts:

  • Contacting consumers on their telephone prior to 8 a.m. or after 9 p.m. (or as otherwise regulated by specific state laws).
  • Calling consumers with the malicious intent to annoy, harass or use abusive language.
  • Collecting debt through deception or misrepresentation
  • Threatening borrowers with legal recourse or criminal charges when no legal action is permitted.
  • Current State Regulations

    Lenders in FederalCreditLoans.com network are encouraged to follow all applicable federal and state laws and regulations. This includes conformity with local laws regarding interest rates, maximum loan terms, rollover limits, fees, cooling-off periods in between loans, and other loan terms. Please note, however, that some Lenders in the FederalCreditLoans.com network are an extension of a federally recognized Indian Tribe, and act as independent sovereign nations. As such, these lenders may not be required to follow all local rules regarding rates, fees and other loan terms. These lenders do, however, conform to federal lending laws including the Truth in Lending Act. Regardless of the type of lender you are connected with, the lender will provide you with all of the necessary loan cost and term information before you decide whether or not to accept your loan.

    Lender’s Full Disclosure of Terms

    The Truth in Lending Act requires full disclosure of all loan fees, terms, and interest rates. Your lender will disclose all fees and rates to you before you accept your loan. If you accept the loan terms, most lenders will direct you to an e-signature page to complete the loan process. Please take the time to read your loan agreement before accepting and signing it. FederalCreditLoans.com is not a lender and does not have any control or knowledge of the loan details between you and your lender.

    Late Payment Policy

    All lenders must abide by applicable laws, rules, and regulations regarding late payment fees. Late payment policies may vary based on the lender. Make sure to review and understand the presented late payment policy detail before executing any loan agreement.

    Non-Payment Policy

    Our reputable lenders are dedicated to using lawful, fair and reasonable means to pursue collections of overdue accounts. In case of non-payment, additional fees or charges may be charged to the defaulted borrower. Non-payments are highly discouraged and defaults can have negative impact on borrower’s creditworthiness for future opportunities.

    Loan Renewal Policy

    Loan renewal policies are largely governed by state law. In states where renewals are allowed, additional interest and late fees can add substantial to your final loan amount, so these should be avoided whenever possible. Read the lender's terms in considering renewal options before signing the loan agreement.