Title 9 — Banking
20 chapters · 569 sections in this title.
9 V.I.C. § 141 Definitions
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(a) For purposes of this chapter:(1) “Advertisement” means a commercial message in any medium that promotes, directly or indirectly, a credit transaction;(2) “Balloon payment” means a loan in which the consumer is required to repay the entire amount of any outstanding balance as …
9 V.I.C. § 142 Consumer protection disclosures
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(a) At the time that a consumer makes an initial application to a creditor for a home equity loan in person, or within three business days if the consumer applies by mail or telephone, the creditor shall provide the applicant with a disclosure in either of the following forms:(1)…
9 V.I.C. § 143 Restrictions on fees, penalties and advertisements
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(a) No fee, penalty or other form of payment may be charged a consumer for prepayment of all or part of the balance of a home equity loan. (b) No advertisement for a home equity loan may refer to such loan as “free money” or use any other term determined by the Banking Board to b…
9 V.I.C. § 144 Penalties
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Any person who violates the provisions of section 142 and 143 of this chapter shall upon conviction be subject to a fine of not more than $1,000.