§ 1662. Advertising of downpayments and installments

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No advertisement to aid, promote, or assist directly or indirectly any extension of consumer credit may state

(1)that a specific periodic consumer credit amount or installment amount can be arranged, unless the creditor usually and customarily arranges credit payments or installments for that period and in that amount.

(2)that a specified downpayment is required in connection with any extension of consumer credit, unless the creditor usually and customarily arranges downpayments in that amount.

(Pub. L. 90–321, title I, § 142, May 29, 1968, 82 Stat. 158.)

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statutes-at-large

Public Law 96–221
To facilitate the implementation of monetary policy, to provide for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts, and to authorize interest-bearing transaction accounts, and for other purposes

Proposed Rules
Notice of proposed rulemaking; request for comment

statute-compilations

Sec. 142
Advertising of downpayments and installments

bill

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Pub. L. 90–321, title I, § 142
82 Stat. 158

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§ 1662

Advertising of downpayments and installments

Bills×2

Fed. Reg.×1

Stat. Comp.×1

Stat.×1

Pub. L.Pub. L. 90–321, title I, § 142

Stat.82 Stat. 158

Cites 2Cited by 5 across 4 sources