Terms Used In Hawaii Revised Statutes 480J-8

• Consumer: means a natural person who is the buyer, lessee, or debtor to whom credit is granted in a transaction that is primarily for that natural person's personal, family, or household purposes. See Hawaii Revised Statutes 480J-1
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Installment loan: means a loan made pursuant to this chapter. See Hawaii Revised Statutes 480J-1
• lender: means any person who is in the business of offering or making a consumer loan, who arranges a consumer loan for a third party, or who acts as an agent for a third party, regardless of whether the third party is exempt from licensure under this chapter or whether approval, acceptance, or ratification by the third party is necessary to create a legal obligation for the third party, through any method including mail, telephone, the Internet, or any electronic means. See Hawaii Revised Statutes 480J-1
• Loan amount: means the amount financed, as that term is defined in Truth in Lending (Regulation Z), title 12 Code of Federal Regulations, chapter X, part 1026, as amended, or supplemented by this chapter. See Hawaii Revised Statutes 480J-1
• Loan charges: means the total of all charges made in connection with a loan except for insufficient funds charges authorized by § 480J-11 and default charges authorized by section 480J-4(i). See Hawaii Revised Statutes 480J-1
• Renewal: means the refinancing of an installment loan that occurs during the period between the original maturity date and the immediately preceding installment payment due date. See Hawaii Revised Statutes 480J-1