The Uniform Consumer Credit Code (U3C)

The Uniform Consumer Credit Code (U3C) is a set of standardized laws designed to regulate consumer credit transactions across different jurisdictions. Its purpose is to promote fair, transparent, and consistent lending practices by establishing clear rules for credit agreements, disclosure of terms, interest rates, and fees. The U3C protects consumers from unfair practices and helps ensure they understand their rights and obligations when borrowing. By creating uniform standards, it simplifies the process for lenders and borrowers, fostering trust and integrity in the credit industry.