### Question
How does CONSUMER CREDIT PROTECTION define interest-only?


### Answer
Under *15 U.S.C. § 1639c*, **interest-only** is defined as:

> that, under the terms of the legal obligation, one or more of the periodic payments may be applied solely to accrued interest and not to loan principal

#### Citation:
  - *15 U.S.C. § 1639c*
  - Heading: **CHAPTER 41-CONSUMER CREDIT PROTECTION > SUBCHAPTER I-CONSUMER CREDIT COST DISCLOSURE > Part B-Credit Transactions**

