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Code · BILL · 113th Congress · H.R. 1566 (Introduced in House) — To create a Federal charter for Internet consumer credit corporations, and for other purposes. · Sec. 5

Sec. 5. Conforming amendment to TILA

90 words·~1 min read·/bill/113/hr/1566/ih/section-5

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Section 104 of the Truth in Lending Act ( 15 U.S.C. 1603 ) is amended by adding at the end the following: Credit transactions involving extensions of credit with a term of 1 year or less in which the creditor provides consumers in all such credit transactions with a clear and conspicuous statement in the loan agreement that discloses the true cost of the loan, including all interest, fees, and other loan related charges, as a dollar amount and as a percentage of the principal amount of the loan. .
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Sec. 5
Conforming amendment to TILA
U.S.C.§ 1603
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