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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. 166

Sec. 166. Prompt notification of returns

97 words·~1 min read·/statute-compilations/comps-260/sec-166

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## § 166 Prompt notification of returns **[**[15 U.S.C. 1666e](/us/usc/t15/s1666e)**]** With respect to any sales transaction where a credit card has been used to obtain credit, where the seller is a person other than the card issuer, and where the seller accepts or allows a return of the goods or forgiveness of a debit for services which were the subject of such sale, the seller shall promptly transmit to the credit card issuer, a credit statement with respect thereto and the credit card issuer shall credit the account of the obligor for the amount of the transaction.
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Prompt notification of returns
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