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Credit Transactions – Definition of Credit Card

by Gregory Williams, Esq. | Under Washington State Human Rights Commission (WSHRC) Credit Transaction Regulations, what is the definition of the term “credit card“? Here’s my point of view (NOTE: please read our DISCLAIMER before proceeding).

THE STATUTORY AUTHORITY (RCW)

RCW 49.60.120(3) is the statutory authority enabling the WSHRC to define the term “credit card.” See WAC 162-40-041, WA State Legislature Website (bottom of page body). The statute declares that the WSHRC has “the function[], power[], and dut[y] … [t]o adopt, amend, and rescind suitable rules to carry out the provisions of this chapter, and the policies and practices of the commission in connection therewith.” RCW 49.60.120(3) (hyperlinks added).

CREDIT TRANSACTIONS — DEFINITION OF CREDIT CARD

WAC 162-40-041 is the relevant regulation, and it defines the term “credit card” as follows:

For purposes of this regulation, unless the context indicates otherwise, the following definitions apply:

…

(10) “Credit card” means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain money, property, or services on credit.

…

WAC 162-40-041 (emphasis added) (hyperlinks added).

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If you would like to learn more, then consider contacting an experienced Washington State Employment Discrimination Attorney as soon as possible to discuss your case. Please note: the information contained in this article is not offered as legal advice and will not form an attorney-client relationship with Law Office of Gregory A. Williams, P.S., Inc.; Williams Law Group, PS; or the author of this article. Please see our DISCLAIMER.

–gw

Credit Transactions — Definition of Credit

by Gregory Williams, Esq. | Under Washington State Human Rights Commission (WSHRC) Credit Transaction Regulations, what is the definition of the term “credit“? Here’s my point of view (NOTE: please read our DISCLAIMER before proceeding).

THE STATUTORY AUTHORITY (RCW)

RCW 49.60.120(3) is the statutory authority enabling the WSHRC to define the term “credit.” See WAC 162-40-041, WA State Legislature Website (bottom of page body). The statute declares that the WSHRC has “the function[], power[], and dut[y] … [t]o adopt, amend, and rescind suitable rules to carry out the provisions of this chapter, and the policies and practices of the commission in connection therewith.” RCW 49.60.120(3) (hyperlinks added).

CREDIT TRANSACTIONS — DEFINITION OF CREDIT

WAC 162-40-041 is the relevant regulation, and it defines the term “credit” as follows:

For purposes of this regulation, unless the context indicates otherwise, the following definitions apply:

…

(9) “Credit” means the right granted by a creditor to an applicant to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment therefor.

…

WAC 162-40-041 (emphasis added) (hyperlinks added).

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–gw

Credit Transactions — Definition of Open End Credit

by Gregory Williams, Esq. | Under Washington State Human Rights Commission (WSHRC) Credit Transaction Regulations, what is the definition of “open end credit“? Here’s my point of view (NOTE: please read our DISCLAIMER before proceeding).

THE STATUTORY AUTHORITY (RCW)

RCW 49.60.120(3) is the statutory authority enabling the WSHRC to define the term “open end credit.” See WAC 162-40-041, WA State Legislature Website (bottom of page body). The statute declares that the WSHRC has “the function[], power[], and dut[y] … [t]o adopt, amend, and rescind suitable rules to carry out the provisions of this chapter, and the policies and practices of the commission in connection therewith.” RCW 49.60.120(3) (hyperlinks added).

CREDIT TRANSACTIONS — DEFINITION OF GOOD FAITH

WAC 162-40-041 is the relevant regulation, and it defines the term “open end credit” as follows:

For purposes of this regulation, unless the context indicates otherwise, the following definitions apply:

…

(17) “Open end credit” means credit extended under a plan in which a creditor may permit an applicant to make purchases or obtain loans from time to time directly from the creditor or indirectly by use of a credit card, check, or other device. The term does not include negotiated advances under an open end real estate mortgage or letter of credit.

…

WAC 162-40-041 (emphasis added) (hyperlinks added).

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–gw

Credit Transactions — Definition of Extend Credit & Extension of Credit

by Gregory Williams, Esq. | Under Washington State Human Rights Commission (WSHRC) Credit Transaction Regulations, what are the definitions of “extend credit” and “extension of credit“? Here’s my point of view (NOTE: please read our DISCLAIMER before proceeding).

THE STATUTORY AUTHORITY (RCW)

RCW 49.60.120(3) is the statutory authority enabling the WSHRC to define the terms “extend credit” and “extension of credit.” See WAC 162-40-041, WA State Legislature Website (bottom of page body). The statute declares that the WSHRC has “the function[], power[], and dut[y] … [t]o adopt, amend, and rescind suitable rules to carry out the provisions of this chapter, and the policies and practices of the commission in connection therewith.” RCW 49.60.120(3) (hyperlinks added).

CREDIT TRANSACTIONS — DEFINITIONS OF EXTEND CREDIT & EXTENSION OF CREDIT

WAC 162-40-041 is the relevant regulation, and it defines the terms “extend credit” and “extension of credit” as follows:

For purposes of this regulation, unless the context indicates otherwise, the following definitions apply:

…

(13) “Extend credit and extension of credit” mean the granting of credit in any form, including, but not limited to, credit granted in addition to any existing credit or credit limit; credit granted pursuant to an open end credit plan; the refinancing or other renewal of credit, including the issuance of a new credit card in place of an expiring credit card or in substitution for an existing credit card; the consolidation of two or more obligations; or the continuance of existing credit without any special effort to collect at or after maturity.

…

WAC 162-40-041 (emphasis added) (hyperlinks added).

LEARN MORE

–gw