§ 1666f. Inducements to cardholders by sellers of cash discounts for payments by cash, check or similar means; finance charge for sales transactions involving cash discounts
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(a)Cash discounts With respect to credit 1 card which may be used for extensions of credit in sales transactions in which the seller is a person other than the card issuer, the card issuer may not, by contract or otherwise, prohibit any such seller from offering a discount to a cardholder to induce the cardholder to pay by cash, check, or similar means rather than use a credit card.
(b)Finance charge With respect to any sales transaction, any discount from the regular price offered by the seller for the purpose of inducing payment by cash, checks, or other means not involving the use of an open-end credit plan or a credit card shall not constitute a finance charge as determined under section 1605 of this title if such discount is offered to all prospective buyers and its availability is disclosed clearly and conspicuously.
(Pub. L. 90–321, title I, § 167, as added Pub. L. 93–495, title III, § 306, Oct. 28, 1974, 88 Stat. 1515; amended Pub. L. 94–222, § 3(c)(1), Feb. 27, 1976, 90 Stat. 197; Pub. L. 97–25, title I, § 101, July 27, 1981, 95 Stat. 144.)
Connections16 cite this · traces to 1
Cited by 16 sections · top 9
U.S. Code
statutes-at-large
- Public Law 93–493
- Public Law 97–25To amend the Truth in Lending Act to encourage cash discounts, and for other purposes
- Public Law 95–630To extend the authority for the flexible regulation of Interest rates on deposits and accounts in depository institutions
- Public Law 94–222To extend the State Taxation of Depositories Act
statute-compilations
Traces to 1 document
16 references not yet in our index
- 1
- Pub. L. 90–321, title I, § 167
- Pub. L. 93–495, title III, § 306
- 88 Stat. 1515
- Pub. L. 94–222, § 3(c)(1)
- 90 Stat. 197
- Pub. L. 97–25, title I, § 101
- 95 Stat. 144
- Pub. L. 97–25
- Pub. L. 94–222
- Section 3(c)(2) of Pub. L. 94–222
- Pub. L. 95–630, title XV, § 1501
- 92 Stat. 3713
- Pub. L. 97–25, title II, § 201
- 95 Stat. 44
- Pub. L. 97–25, title I, § 103
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§ 1666f
Inducements to cardholders by sellers of cash discounts for payments by cash, check or similar means; finance charge for sales transactions involving cash discounts
Stat.×8
U.S.C.×7
Stat. Comp.×1
Cite1
Pub. L.Pub. L. 90–321, title I, § 167
Pub. L.Pub. L. 93–495, title III, § 306
Stat.88 Stat. 1515
Pub. L.Pub. L. 94–222, § 3(c)(1)
Cites 17 · showing 6Cited by 16 across 3 sources