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Terms Used In 14 Guam Code Ann. § 3604

  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
e agreement with respect to a loan for which loan finance charge ceilings are set by § 3602 (certain loans to individuals) may not provide for any charges as a result of default by the debtor except for reasonable attorneys’ fees and reasonable expenses incurred in realizing on a security interest and charges that could have been made had the loan been a consumer loan. An agreement in violation of this Section is void.