Responsible Lending Policy
MoneyLoans.com offers a fast and convenient way to request a personal loan from a network of reputable personal loan lenders. We remain dedicated to working with reputable lenders. In addition, MoneyLoans.com aims to provide information that will assist consumers in making informed, responsible loan decisions.
Truth in Lending Act
MoneyLoans.com’s policies and practices adhere to the regulations set by Fair Lending laws, such as the Truth in Lending Act. Before a consumer assumes any obligation to initiate the loan process, consumers should demand to be presented, in writing, with the exact rates, fees, rollover charges, and other details of their loan, not to exceed applicable laws, rules, and regulations.
The Dodd-Frank Wall Street Reform Act states that all lenders, including personal loan, must engage in “fair lending,” which is defined as “fair, equitable, and nondiscriminatory access to credit for consumers.” Dodd-Frank also tasks the Consumer Financial Protection Bureau with the enforcement of fair lending regulations. Consumers using MoneyLoans.com are urged to file a complaint with the agency should any problems arise with their loans.
Federal Lending Standards
Although MoneyLoans.com is not a direct lender, we do insist on certain standards for the lenders within our network. MoneyLoans.com remains dedicated to working with lenders that operate within the bounds of federal standards for the lending industry. Should a lender be found to be non-compliant, MoneyLoans.com does not hesitate to cease conducting business with the company.
MoneyLoans.com’s policies and practices adhere to federal regulations set by the Truth in Lending Act (TILA). This act requires that all loan terms must be released in writing to the loan applicant prior to any agreements regarding repayment terms. Specific details regarding repayment terms, interest rates or other fees, and any other details unique to your loan must be included. All guidelines laid out by the Truth in Lending act are subject to enforcement by the Federal Trade Commission for additional consumer protection
State Lending Standards
Individual states also have numerous laws for lending within their borders. These include strict adherence to local laws regarding interest rates, rollover limits and fees, maximum loan terms, cool-off periods between loans, presentment limits, and more. Consumers should educate themselves about loan product they desire and the laws, rules, and regulations applicable to the product.
It is important to note that State regulations have a significant impact on the repayment terms that each lender can offer. Prior to accepting your personal loan offer, your lender will provide you with various loan renewal options. It is important that you carefully review the terms and conditions of the loan offer you receive.
Fair Debt Collection Practices
For consumers repaying their loans, MoneyLoans.com supports all provisions of the Fair Debt Collection Practices Act enforced by the Federal Trade Commission. MoneyLoans.com is not an actual lender and, as a result, does not collect debts from consumers. MoneyLoans.com endeavors to only work with lenders that comply with applicable debt collection laws, rules, and regulations. These include:
- NOT contacting consumers by phone anytime before 8 a.m. or after 9 p.m.
- NOT contacting consumers by phone with the intent to annoy, harass, or use abusive language.
- NOT collecting debt through deception or misrepresentation.
- NOT threatening legal recourse when no legal action is permitted.
Should a lender be found to be in violation of these or any other applicable laws, MoneyLoans.com does not hesitate to cease conducting business with the company.
THE INFORMATION PROVIDED ON THIS SITE SHOULD NOT BE CONSTRUED AS LEGAL ADVICE AND IS NOT A SUBSTITUTE FOR QUALIFIED LEGAL REPRESENTATION.