Terms Used In Rhode Island General Laws > Chapter 6-48 - Consumer Empowerment and Identity Theft Prevention Act of 2006

• account review: includes activities related to account maintenance, monitoring, credit line increases, and account upgrades and enhancements. See Rhode Island General Laws 6-48-4
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Case law: The law as laid down in cases that have been decided in the decisions of the courts.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Consumer: means an individual who is also a resident of this state. See Rhode Island General Laws 6-48-4
• Consumer report: has the meaning ascribed to it in Rhode Island General Laws 6-48-4
• Consumer reporting agency: has the meaning ascribed to it in Rhode Island General Laws 6-48-4
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. ^{Source: OCC}
• Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. ^{Source: OCC}
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity. See Rhode Island General Laws 6-48-4
• Proper identification: means proper identification as defined in Rhode Island General Laws 6-48-4
• Security freeze: means a notice placed in a consumer's credit report at the request of the consumer and subject to certain exceptions, that prohibits the consumer reporting agency from releasing the consumer's credit report or score related to the extension of credit. See Rhode Island General Laws 6-48-4
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Truth in Lending Act: The Truth in Lending Act is a federal law that requires lenders to provide standardized information so that borrowers can compare loan terms. In general, lenders must provide information on ^{Source: OCC}