15 U.S.C. § 1662 — Advertising of downpayments and installments
submitted 58 years ago by Pub. L. 90-321 to r/title-15-COMMERCE-AND-TRADE · 75 words · no verdicts yet
An advertisement generally may not promise a particular periodic payment or required downpayment unless the creditor normally offers that amount for that period.
(a) An advertisement for consumer credit* may not say that a particular periodic payment or installment can be arranged unless the creditor* usually arranges payments or installments for that period and amount.
(b) It may not say that a particular downpayment is required unless the creditor usually arranges downpayments in that amount.
No advertisement to aid, promote, or assist directly or indirectly any extension of consumer credit* may state
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.
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.
Source credit: (Pub. L. 90–321, title I, § 142, May 29, 1968, 82 Stat. 158.)
- 1968Enacted · Pub. L. 90-321 · 82 Stat. 158
A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-321 on 1968-05-29.
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