by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry
Update Table of Contents What is the Rule of 78?How Does the Rule of 78 Work? What is the Rule of 78?The Rule of 78 is a method of calculating yearly interest which is commonly applied to the short-term consumer and business loans. The name Rule of 78 is derived from...
by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry
Update Table of Contents What is Regulation Q?How Does Regulation Q Work? What is Regulation Q?Regulation Q is a Federal Reserve Board Regulation imposing restrictions on the payment of interest on checking accounts. The rule was adopted in 1933 and prohibits banks...
by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry
Update Table of Contents What is Regulation R?How Does Regulation R Work? What is Regulation R?Regulation R implements an exemption for banks offering certain brokerage services and allows them to provide those services without registering themselves as a...
by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry
Update Table of Contents What is Regulation Z?How Does Regulation Z Work? What is Regulation Z?Regulation Z is a Federal Reserve Regulation and a part of the Truth in Lending Act of 1968. The regulation requires the lenders to disclose all the terms and conditions of...
by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry
Update Table of Contents What is Revolving Credit?How Does a Revolving Line of Credit Work? What is Revolving Credit?Revolving credit, also known as a line of credit, is a line of credit where the customers can access the money until they have borrowed up to the...
by TheBusinessProfessor | Feb 23, 2025 | Banking, Lending, and Credit Industry
Update Table of Contents What is Right of Rescission?How Does the Right of Rescission Work? What is Right of Rescission?The Right of Rescission is a contract term. It grants the holder the right to rescind or undo a contract. The Right of Rescission is a right...
