Ohio Administrative Code
Title 109:4 - Consumer Protection
Chapter 109:4-3 - Deceptive Acts or Trade Practices in Connection with Consumer Transactions
Section 109:4-3-21 - Instructing consumer to ignore information
Current through all regulations passed and filed through September 16, 2024
For purposes of division (B)(5) of section 1345.031 of the Revised Code:
(A) "Instructing the consumer to ignore the supplier's written information" includes, but shall not be limited to, the supplier promising the consumer a specific interest rate or a specific number or dollar amount of points that is lower than the interest rate or points amount listed in the supplier's written information.
(B) The "dollar value of points" includes points expressed as either a percentage figure or a specific dollar figure, with "point" defined as a charge equal to one percent of either the principal amount of a pre-computed or interest-bearing loan, or one percent of the original credit line of an open-end loan.
Five Year Review (FYR) Dates:
04/28/2017 and
04/28/2022
Promulgated
Under: 119.03
Statutory
Authority: 1345.05
Rule
Amplifies: 1345.031(B)(5)
Prior Effective Dates:
1/7/07
