§ 6-27-2 - Declaration of purpose. - Rhode Island Statutes

SECTION 6-27-2

   § 6-27-2  Declaration of purpose. –The general assembly finds that economic stabilization would be enhanced andthat competition among the various financial institutions and other firmsengaged in the extension of consumer credit would be strengthened by theinformed use of credit. The informed use of credit results from an awareness ofthe cost of credit by consumers. It is the purpose of this chapter to assure ameaningful disclosure of credit terms so that the consumer will be able tocompare more readily the various credit terms available to him or her and thusavoid the uninformed use of credit.