edmcouncil / fibo

The Financial Industry Business Ontology (FIBO) defines the sets of things that are of interest in financial business applications and the ways that those things can relate to one another. In this way, FIBO can give meaning to any data (e.g., spreadsheets, relational databases, XML documents) that describe the business of finance.
https://spec.edmcouncil.org/fibo/
MIT License
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SEC-190 - Consumer loans is incomplete and needs additional content / definitions #1958

Closed ElisaKendall closed 1 year ago

ElisaKendall commented 1 year ago

Description

  1. Added consumer credit card agreement and commercial credit card agreement to the credit cards ontology; Revised the consumer loans ontology to add a superclass to the new consumer credit card agreement stating that it is a consumer loan
  2. Revised the concept of an 'auto loan' to the more general 'motor vehicle loan', added explanatory notes and references and added secured and unsecured consumer loan to account for the legal definitions in US law per discussion in the SEC working group
  3. Clarified the definition of consumer loan to explicitly exclude mortgages and student loans as per US law; note that mortgages are included in the broader definition of consumer credit in the UK but student loans are not

Fixes: #1957 / SEC-190

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