Fair Credit Billing, Hearings Before the Subcommittee on Financial Institutions of ..., 92-1 on S. 652, a Bill to Amend the Truth in Lending Act to Protect Consumers Against Careless and Unfair Billing Practices, and for Other Purposes, October 26, 27, 28, and 29, 1971 |
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Common terms and phrases
account number adjusted balance method amended American Express annual percentage rate average daily balance bank card BANK COPY bank credit card BankAmericard billing cycle billing errors billing period billing statement buyer cardholder cardholder's cash price Central Charge Chairman CHARGE CARD committee complaints consumer credit cost Credit Billing Act credit card issuers credit rating creditor customer's defenses Diners Club disclosure discount dispute Fair Credit Billing Federal Trade Commission finance charge holder in due inquiries legislation Lending Act letter Massachusetts Master Charge matter ment merchandise merchant minimum charges month monthly obligor paid payment percent practices previous balance method problem prohibit purchase RAE A BERG receipt received record require response retail installment sales draft Section 161 seller Senator BROCK Senator MCINTYRE Senator PROXMIRE service charge SILBERGELD Subcommittee sumer telephone tion TOTAL transaction Truth in Lending Truth-in-Lending Act WILLIER
Popular passages
Page 466 - Section 51 of this code, is liable for each and every such offense for the actual damages, and two hundred fifty dollars ($250) in addition thereto, suffered by any person denied the rights provided in Section 51 of this code.
Page 100 - The adequacy of existing arrangements to provide consumer credit at reasonable rates. (2) The adequacy of existing supervisory and regulatory mechanisms to protect the public from unfair practices, and insure the informed use of consumer credit. (3) The desirability of Federal chartering of consumer finance companies, or other Federal regulatory measures.
Page 307 - ... in that account or with respect to which a finance charge is imposed, a statement setting forth each of the following items to the extent applicable: (1) The outstanding balance in the account at the beginning of the statement period.
Page 246 - ... (1) twice the amount of the finance charge in connection with the transaction, except that the liability under this paragraph shall not be less than $100 nor greater than $1,000 ; and (2) in the case of any successful action to enforce the foregoing liability, the costs of the action together with a reasonable attorney's fee as determined by the court.
Page 210 - ... not be imposed with respect to such portion of the credit extended for the billing cycle of which such period is a part unless a statement which includes the amount upon which the finance charge for that period is based was mailed at least fourteen days prior to the date specified in the statement by which payment must be made in order to avoid imposition of that finance charge.
Page 126 - consumer goods" if they are used or bought for use primarily for personal, family or household purposes; (2) "equipment...
Page 466 - ... not exceed the amount of credit outstanding with respect to such transaction at the time the cardholder first notifies the card issuer or the person honoring the credit card of such claim or defense. For the purpose of determining the amount of credit outstanding...
Page 160 - ... (other than tort claims) and defenses arising out of any transaction in which the credit card is used as a method of payment...
Page 463 - cardholder' means any person to whom a credit card is issued or any person who has agreed with the card issuer to pay obligations arising from the issuance of a credit card to another person. " (n) The term 'card issuer' means any person who issues a credit card, or the agent of such person with respect to such card.
Page 129 - The licensee shall keep and use in his business such books, accounts, and records as will enable the Commissioner to determine whether such licensee is complying with the provisions of this Act and with the rules and regulations lawfully made by the Commissioner hereunder.