12 U.S.C. § 263
EDITORIAL NOTES
AMENDMENTS1942-Subsec. (a). Act July 7, 1942, substituted second, third, and fourth sentences for former second and third sentences.1935-Act Aug. 23, 1935, amended provisions relating to membership in subsec. (a), substituted "Committee" for "Federal Reserve Board" and "Board" in subsec. (b), and omitted subsec. (d).
- credit
- The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.