|
The purpose of
our Cash Advance Agreement is to make you, our customer, fully aware and
informed of all terms and conditions of our policies, as well as all Federal
and State regulations as required by law.
STEN Financial Corporation dba , Alliance Cash
Advance, MoneyWorldLending is registered with the Utah Department of
Financial Institutions. Any submitted transactions via the Internet are deemed
to have taken place in Utah regardless of your physical location. Nevertheless,
if you do not want to enter into a cash advance subjected to the state laws of
Utah, then you should apply for a cash advance at a provider located in the
state where you live. Our deferred presentment agreement is governed by
the state laws of Utah, which makes you, our customer abiding to the state laws
of Utah.
FEDERAL DISCLOSURE REQUIREMENTS
Regulation Z: Federal law requires the full
disclosure of all costs and terms associated with any credit purchases or
transactions (such as our cash advance program) and further requires that the
costs associated with the transaction be expressed as an annual percentage rate
of interest or A.P.R.
For each transaction, the creditor shall
disclose the following information as applicable:
Creditor. The identity of the creditor making the disclosures.
Amount financed. The amount financed, using that term, and a brief description
such as the amount of credit provided to you or on your behalf.
Itemization of amount financed. (1) A separate written itemization of the
amount financed, including:
(i) The amount of any proceeds distributed directly to the consumer.
(ii) The amount credited to the consumer's account with the creditor.
(iii) Any amounts paid to other persons by the creditor on the consumer's
behalf. The creditor shall identify those persons.
(iv) The prepaid finance charge.
*The creditor need not comply with this section if the creditor provides a
statement that the consumer has the right to receive a written itemization of
the amount financed, together with a space for the consumer to indicate whether
it is desired, and the consumer does not request it.
Finance charge. The finance charge, using that term, and a brief description
such as “the dollar amount the credit will cost you.”
Annual percentage rate. The annual percentage rate, using that term, and a
brief description such as “the cost of your credit as a yearly rate.”
Payment schedule. The number, amounts, and timing of payments scheduled to
repay the obligation.
Total of payments. The total of payments, using that term, and a descriptive
explanation such as “the amount you will have paid when you have made all
scheduled payments.”
Prepayment. (1) When an obligation includes a finance charge computed from time
to time by application of a rate to the unpaid principal balance, a statement
indicating whether or not a penalty may be imposed if the obligation is prepaid
in full.
Regulation B: The federal Equal Credit Opportunity Act (ECOA) prohibits
creditors from discriminating against credit applicants on the basis of race,
color, religion, national origin, sex, martial status, age (provided the
applicant has the capacity to enter into a binding contract); because the
applicant has in good faith exercised any right under the Consumer Credit
Protection Act. The federal agency that administers compliance with this law
concerning this creditor is the Federal Trade Commission, Equal Credit
Opportunity Division, Washington, DC 20580 (Reg. B 202.9(b)). We will not
discriminate anyone based upon any of the above factors. In addition, we will
not enter into or maintain vendor/reciprocal information service type
relationships with anyone who does not conform to these anti-discriminatory
practices.
|