“Closed-end loan” means any expansion of credit except that an open-end loan.

(H) “Collecting” and “collected” means the servicing of that loan or receipt of re payments from a debtor for the loan made pursuant to parts 1321.62 to 1321.702 associated with the Revised Code.

(I) “Consumer report” and “customer reporting agency” have actually the meanings that are same in the “Fair credit scoring Act.” 84 Stat. 1128. 15 U.S.C. 1681a. as amended.

(J) “Control individual” means somebody who, when you look at the determination associated with superintendent of banking institutions, gets the authority to direct and get a grip on the operations of this applicant.

(K) “Depository organization” gets the exact exact exact same meaning like in area 3 associated with “Federal Deposit Insurance Act.” 64 Stat. 873. 12 U.S.C. 1813. and includes any credit union.

(L) “Direct mail” means that loan arranged via a software through the mail or internet where in actuality the loan profits are delivered through the mail or electronic transmission into the good thing about a debtor. Read more