A bill to amend the Truth in Lending Act with regard to the inclusion of life, accident, or health insurance in the finance charge which must be disclosed under such act.

Summary

Requires, under the Truth in Lending Act, that charges for credit life, accident, or health insurance written in connection with any consumer credit transaction be included in the finance charges. Provides that if such insurance is a part of the transaction solely as a result of the creditor's purchasing the insurance on a group basis prior to the transaction in order to assure that the insurance would be a part of the transaction without regard to any action by the debtor concerning the insurance, it need not be included.

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1 official file

• Introduced in House

  summary · EN · 12 March 1975

  Open at official source

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