Triggering terms. Phrases or figures used in advertising that will "trigger" other Regulation Z disclosures. The following are trigger terms: the amount or percentage of any down payment, the payment period, the monthly payment, and the amount of the finance charge.
A triggering term is a word or phrase that legally requires one or more disclosures when used in advertising. Triggering terms are defined by the Truth in Lending Act (TILA) and are designed to protect consumers from predatory lending practices.
Statements of the annual percentage rate or statements that there is no particular charge for credit (such as “no closing costs”) are not triggering terms under this paragraph.
Down payment: A reference to a down payment in an advertisement acts as a triggering term only if a down payment is actually required for the credit product. For example, stating that no down payment is required does not trigger additional disclosures.
The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc.
The triggering terms include charges imposed under a non-home secured credit plan such as finance charges, late fees, over-the-limit fees, returned item fees, fees for obtaining a cash advance, fees to obtain additional or replacement cards, expedited card delivery fees, application and membership fees, annual and ...
Final answer: The only term that is not a 'trigger term' according to Regulation Z is the APR. Trigger terms in Regulation Z are those that could potentially cause misunderstanding about the cost of credit, including downpayment amount, number of payments or repayment period, and finance charge amount.
The trigger terms are those required to be disclosed under section 1026.6(b)(3) and include the APR, transaction fees, annual fee and certain other charges. This applies to trigger terms stated in the positive ($50 annual fee) and in the negative (no annual fee).
A triggering event is a tangible or intangible barrier or occurrence which, once breached or met, causes another event to occur. Triggering events include job loss, retirement, or death, and are typical for many types of contracts.
Which of the following best describes a trigger? Something that easily sets you off and causes an immediate, often emotional, reaction.
Final answer: A 'triggering term' in advertising refers to specific financial terms which necessitate additional disclosures under specific laws. All examples provided, except 'mortgage is assumable', qualify as 'triggering terms' as they provide specific financial figures requiring further information.
A trigger is a stimulus that elicits a reaction. In the context of mental illness, "trigger" is often used to mean something that brings on or worsens symptoms. This often happens to people with a history of trauma or who are recovering from mental illness, self-harm, addiction, and/or eating disorders.
Meaning of triggering in English
causing a strong emotional reaction of fear or worry because someone is made to remember something bad that has happened in the past: For people with PTSD, loud noises can be triggering. a triggering experience.
Examples of trigger events include globalization, shifts in labor market, deregulation, and mergers and acquisitions. Each of these events can cause adjustments in market equilibria, changes in competitive landscapes, or shifts in strategic business decisions.
Share. Definition: used in advertising, include the following – the amount or percentage of down payment, number of payments, period (term) of repayment, amount of any payment, and the amount of any finance charges. Pronunciation: \ˈtri-g(ə-)riŋ\
Triggers tracks a consumer's credit behaviour across multiple products and send an alert whenever there's a change in a customer profile. You receive valuable knowledge about your customers swiftly, enabling you to identify your low-risk, high-value customers and take action.
Triggers in the context of investing are market or investment-related occurrences that may cause the system or the investor to take a certain action. An event (trigger condition) and an activity taken when the event occurs make up a basic trigger setup.
Annual percentage rate (APR) refers to the yearly interest rate you'll pay if you carry a balance on your credit card. Some credit cards have variable APRs, meaning your rate can go up or down over time.
Here is an example:
If your current balance is $500 for the entire month and your APR rate is 17.99%, you can find your daily periodic rate by dividing your current APR by 365. In this case, your daily APR would be approximately 0.0492%. By multiplying $500 by 0.00049, you'll find your daily periodic rate is $0.25.
APR – or Annual Percentage Rate – refers to the total cost of your borrowing for a year.