Terms Used In CFR > Title 46 > Chapter II > Subchapter H - Training

• Act: means the Fair Credit Reporting Act (15 U. See 16 CFR 680.3
• affiliate: means any company that is related by common ownership or common corporate control with another company. See 16 CFR 680.3
• consumer: means an individual. See 16 CFR 680.3
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• eligibility information: means any information the communication of which would be a consumer report if the exclusions from the definition of "consumer report" in section 603(d)(2)(A) of the Act did not apply. See 16 CFR 680.3
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Oath: A promise to tell the truth.
• 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.
• Personal property: All property that is not real property.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• solicitation: means the marketing of a product or service initiated by a person to a particular consumer that is—

  (i) Based on eligibility information communicated to that person by its affiliate as described in this part; and

  (ii) Intended to encourage the consumer to purchase or obtain such product or service. See 16 CFR 680.3

• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.