Late Fee Relief Act

Summary

Late Fee Relief Act - Establishes a six-month period during which consumers of financial services shall be extended a two-week grace period to make any obligatory payments. Prohibits a financial services business from: (1) imposing either a late fee or additional financing fee upon a consumer account for failure to make payment by the due date, unless a payment is not received by the end of the two-week grace period; or (2) providing any information adverse to the consumer or the consumer's credit status as a result of such payment failure before the two-week grace period. States that this Act shall be enforced under the Truth in Lending Act.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 1 November 2001

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• Introduced in House (PDF)

  Introduced in House · EN · 1 November 2001

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• Introduced in House

  summary · EN · 1 November 2001

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