15 U.S.C. § 1663 — Advertising of open end credit plans
submitted 58 years ago by Pub. L. 90-321 to r/title-15-COMMERCE-AND-TRADE · 93 words · no verdicts yet
An advertisement for an open-end credit plan may state specific terms only if it also clearly and prominently gives the required minimum or fixed amount, applicable periodic rates as annual percentage rates, and any other term the Bureau requires.
(a) An advertisement that directly or indirectly promotes consumer credit* under an open-end credit plan may not state specific terms of the plan unless it also clearly and prominently states: (1) any minimum or fixed amount that could be imposed; (2) if periodic rates may be used to calculate the finance charge, those rates expressed as annual percentage rates; and (3) any other term the Bureau* requires by regulation.
No advertisement to aid, promote, or assist directly or indirectly the extension of consumer credit* under an open end credit plan* may set forth any of the specific terms of that plan unless it also clearly and conspicuously sets forth all of the following items:
Any minimum or fixed amount which could be imposed.
In any case in which periodic rates may be used to compute the finance charge, the periodic rates expressed as annual percentage rates.
Any other term that the Bureau* may by regulation require to be disclosed.
Source credit: (Pub. L. 90–321, title I, § 143, May 29, 1968, 82 Stat. 158; Pub. L. 96–221, title VI, §§ 613(f), 619(a), Mar. 31, 1980, 94 Stat. 177, 183; Pub. L. 111–203, title X, § 1100A(2), July 21, 2010, 124 Stat. 2107.)
- 1968Enacted · Pub. L. 90-321 · 82 Stat. 158
- 1980Amended · Pub. L. 96-221 · 94 Stat. 177, 183
- 2010Amended · Pub. L. 111-203 · 124 Stat. 2107
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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