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Code · STATUTE-COMPILATIONS · safeguard the consumer in connection with the utilization of credit by requiring full disclosure of the terms and conditions of finance charges in credit transactions or in offers to extend credit; by · Sec. 144

Sec. 144. Advertising of credit other than open end plans

316 words·~1 min read·/statute-compilations/comps-260/sec-144

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## § 144 Advertising of credit other than open end plans **[**[15 U.S.C. 1664](/us/usc/t15/s1664)**]** ###
(a)Except as provided in subsection (b), this section applies to any advertisement to aid, promote, or assist directly or indirectly any consumer credit sale, loan, or other extension of credit subject to the provisions of this title, other than an open end credit plan. ###
(b)The provisions of this section do not apply to advertisements of residential real estate except to the extent that the Bureau may by regulation require. ###
(c)If any advertisement to which this section applies states the rate of a finance charge, the advertisement shall state the rate of that charge expressed as an annual percentage rate. ###
(d)If any advertisement to which this section applies states the amount of the downpayment, if any, the amount of any installment payment, the dollar amount of any finance charge, or the number of installments or the period of repayment, then the advertisement shall state all of the following items: ####
(1)The downpayment, if any. ####
(2)The terms of repayment. ####
(3)The rate of the finance charge expressed as an annual percentage rate. ###
(e)Each advertisement to which this section applies that relates to a consumer credit transaction that is secured by the principal dwelling of a consumer in which the extension of credit may exceed the fair market value of the dwelling, and which advertisement is disseminated in paper form to the public or through the Internet, as opposed to by radio or television, shall clearly and conspicuously state that— ####
(1)the interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes; and ####
(2)the consumer should consult a tax adviser for further information regarding the deductibility of interest and charges.
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Sec. 144
Advertising of credit other than open end plans
U.S.C.§ 1664
Cites 1Cited by 0 across 0 sources
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