Consumer Finance Services Definition. Consumer financial services is one of the nation’s most heavily regulated industries. Consumer financial services, also called retail financial services, are financial services offered to ordinary consumers.
A consumer loan is a loan given to consumers to finance specific types of expenditures. The finance industry encompasses a broad range of organizations that deal with the management of money. Creditor must serve repossession warning notice on debtor and other persons before taking possession of consumer goods:
Among these organizations are banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises.
Financial services refer to services provided by the finance industry. You don't own a car, you want to own it, the bank help you. Definition • the term consumer finance refers to the activities involved in granting credit to consumers to enable them to possess goods meant for everyday use. Services offer intangible value that has no physical form such as an experience, result or process.