(2) The underlying purposes and policies of this title are:

1. (a) To simplify, clarify and modernize the law governing retail installment sales, consumer credit and usury;
2. (b) To provide rate ceilings to assure an adequate supply of credit to consumers;
3. (c) To further consumer understanding of the terms of credit transactions and to foster competition among suppliers of consumer credit so that consumers may obtain credit at reasonable cost;
4. (d) To protect consumer buyers, lessees, and borrowers against unfair practices by some suppliers of consumer credit, having due regard for the interests of legitimate and scrupulous creditors;
5. (e) To permit and encourage the development of fair and economically sound consumer credit practices;
6. (f) To conform the regulation of consumer credit transactions to the policies of the Federal Consumer Credit Protection Act; and
7. (g) To make uniform the law, including administrative rules, among the various jurisdictions.