To amend the Truth in Lending Act to require a store in which a consumer may apply to open a credit or charge card account to display a sign, at each location where the application may be made, containing the same information required by such Act to be prominently placed in a tabular format on the application.
Last action on Mar 2, 2001Referred to the Subcommittee on Financial Institutions an...
Take Action
Summary
This bill would require retail stores that offer credit card applications to clearly display a sign at every location where a customer can apply, such as at a checkout counter. The sign must present key financial information—including interest rates, annual fees, and grace periods—in a standardized table format. By providing these details upfront, the bill aims to ensure consumers can review the costs and terms of a store credit card before they begin the application process.
AI-generated summary
Lifecycle of the Bill
No events recorded for this stage yet.