cambium (kam-bee-[schwa]m). [Law Latin “exchange”] Hist. 1. An exchange of money, debt, or land. cambium locale. A contract of exchange in which a person agrees to pay a sum of money at one location in consideration of money received at another location. — Also termed cambium mercantile; cambium trajectitium. cambium reale. An exchange of land. […]
chevisance (chev-[schwa]-zints). [Law French] Hist. 1. A composition; an agreement between a creditor and a debtor. See COMPOSITION. 2. An unlawful or usurious contract; esp., a contract intended to evade the statutes prohibiting usury.
usura (yoo-s[y]oor-[schwa] or yoo-z[y]oor-[schwa]). [Latin] Civil law. 1. Money paid for the use of money; interest. 2. USURY. Pl. usurae (yoo-s[y]oor-ee).
Real Estate Settlement Procedures Act. A federal law that requires lenders to provide home buyers with information about known or estimated settlement costs. 12 USCA §§ 2601–2617. — Abbr. RESPA. See REGULATION X. [Cases: Consumer Credit 30. C.J.S. Interest and Usury; Consumer Credit §§ 317–318.]
real estate settlement procedures act Read More »
An interest rate higher than the rate allowed by law. See USURY. [Cases: Usury 42. C.J.S. Interest and Usury; Consumer Credit §§ 135–141, 143, 146, 152, 157.]
redlining, n. 1. Credit discrimination (usu. unlawful discrimination) by an institution that refuses to provide loans or insurance on properties in areas that are deemed to be poor financial risks or to the people who live in those areas. [Cases: Civil Rights 1041, 1079; Consumer Credit 31. C.J.S. Civil Rights §§ 2–3, 14–17, 21, 23;
Interest at a rate agreed to by the parties themselves, as distinguished from that prescribed by law. Cf. interest as damages. [Cases: Interest 4, 32. C.J.S. Interest and Usury; Consumer Credit § 9, 38.]
conventional interest Read More »
dry exchange. Something that pretends to pass on both sides of a transaction, but passes on only one side. “Dry exchange … seems to be a subtil term invented to disguise usury, in which something is pretended to pass on both sides, whereas in truth nothing passes on the one side.” Termes de la Ley
Fair Credit Billing Act. A federal law that facilitates the correction of billing errors by credit-card companies and makes those companies more responsible for the quality of goods purchased by cardholders. 15 USCA §§ 1666–1666j. [Cases: Consumer Credit 30. C.J.S. Interest and Usury; Consumer Credit §§ 317–318.]
fair credit billing act Read More »