Periodic Rate Law and Legal Definition

According to 15 USCS Appx 12 CFR § 226.2 (21), [Title 15. Commerce and Trade; Chapter 41. Consumer Credit Protection; Truth in Lending Regulations. (Regulation Z); Subpart A. General] the term periodic rate means “a rate of finance charge that is or may be imposed by a creditor on a balance for a day, week, month, or other subdivision of a year.”