### Question
What does consumer credit mean?


### Answer
**Consumer credit** has the following meaning in *10 U.S.C. § 987*:

> provided for such term in regulations prescribed under this section, except that such term does not include (A) a residential mortgage, or (B) a loan procured in the course of purchasing a car or other personal property, when that loan is offered for the express purpose of financing the purchase and is secured by the car or personal property procured.

#### Citation:
  - *10 U.S.C. § 987*
  - Heading: **Subtitle A-General Military Law > PART II-PERSONNEL > CHAPTER 49-MISCELLANEOUS PROHIBITIONS AND PENALTIES**

