A bill to suspend, pending review, the effect of the Federal Trade Commission's rule concerning limitation of the use of holder-in-due-course defenses in connection with the sale or lease of goods or services to consumers; to require the General Accounting Office to conduct a study of the effect of this rule on the consumer market; and to require formal rulemaking by the Commission respecting this rule.

Summary

Suspends the rule of the Federal Trade Commission which removed the holder in due course status of purchasers of consumer notes until the General Accounting Office has studied the effect of such rule on the consumer credit market and the Commission has considered such study in a formal rulemaking proceeding.

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1 official file

• Introduced in House

  summary · EN · 5 August 1976

  Open at official source

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